Properties in five different states have been in Rosewood’s portfolio for a decade, and refinancing will unlock new potential
DALLAS and NEW YORK, New York (May 5, 2025) – Rosewood Property Company closed on a $125 million fixed-rate refinance for a 19-property self-storage portfolio that includes assets across the Midwest, Northeast and the Mid-Atlantic regions.
PGIM Real Estate, the real estate investment and financing arm of Prudential Financial, provided the financing through its core lending strategy.
“This portfolio represents a critical mass of stabilized self-storage facilities in markets with strong demographics and underlying fundamentals. Rosewood has owned the properties for 10 years, and this refinance allows us to repatriate significant equity, which will be redeployed into the sector as we continue to grow our self-storage holdings,” said Brandon Cooke, Senior Vice President at Rosewood Property Company. “We’re thankful for Newmark’s efforts in securing compelling debt financing despite challenging market conditions.”
The 19-property portfolio is located across several states, including 13 in Pennsylvania, three in Maryland, and one each in New Jersey, Indiana and Kentucky.
Newmark Co-Presidents of Global Debt & Structured Finance Jonathan Firestone and Jordan Roeschlaub, Vice Chairmen Nick Scribani and Clint Frease and Director John Caraviello secured the financing in collaboration with Vice Chairman of Self-Storage Capital Markets Aaron Swerdlin and Executive Managing Director of Strategic Advisory and Liquidity Solutions Andrew Warin.
“This refinancing highlights the market’s continued appetite for well-performing alternative real estate sectors such as self-storage,” said Roeschlaub.
“We are pleased to have provided this financing to Rosewood through our core lending strategy,” said Paul Geyer, Managing Director at PGIM Real Estate who arranged the financing on the firm’s behalf. “We continue to maintain a strong presence in the self-storage sector through both our core and core-plus lending strategies.”
This 19-property portfolio totals over 9,970 units across 1.2 million rentable square feet and is strategically located in 13 different markets across five states in the Midwest, Northeast and Mid-Atlantic. The portfolio has demonstrated strong NOI growth and an average occupancy of 91% over the past 10 years.
Rosewood Property Company currently owns and operates 84 self-storage facilities totaling around 6 million rentable square feet. The company continues to focus on growing its self-storage portfolio through both acquisitions and new developments.