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17 Feb 2021

StorageBlue Closes $55.5 Million Refinance of Storage Portfolio


ENGLEWOOD CLIFFS, NJ, USA, February 2, 2021 /EINPresswire.com/ -- StorageBlue, New Jersey’s best-priced, consumer-centric self storage brand, announced today the completion of a $55.5 Million Dollar refinancing of a 5-building portfolio of self storage facilities which serve New York City and Northern New Jersey’s Gold Coast. StorageBlue has received countless awards, including the most recent “Top Rated in Manhattan in 2020” by StorageUnits.com. The complex 55.5 million dollar loan transaction was financed by Natixis Real Estate Capital LLC.

"Natixis made this process seamless, as they have done in the past, allowing us to continue to focus on our strategic growth plans for 2021 and beyond," says Alan Mruvka, Founder and CEO of StorageBlue, who is also the business magnate behind the creation of E! Entertainment Television, today valued at an estimated $14 Billion, as well as The Alan Mruvka Company, a real estate development and construction company focused on destination projects and creative urban redevelopment in New York, New Jersey, California and Nevada.

Mruvka and StorageBlue continue to improve the self-storage process and customer experience, seeking to expand its portfolio nationwide through the acquisition of existing self-storage buildings and development of new self-storage facilities. He stressed StorageBlue’s digital superiority to other brands with features like mobile usability, online payment management, and high-tech security to make StorageBlue stand out from its competitors. StorageBlue was recognized by the industry for being one of the first to deploy industry-leading COVID-19 protection, procedures and policies.

"One of the things we are most proud of at StorageBlue, is that we continue to re-invest our capital into improving both the physical properties, as well as, incorporating technological advances into a typically outdated industry," adds Mruvka. "StorageBlue's 365 days-a-year access, long service hours, and regular upgrades to our facilities are some of the key reasons we have enjoyed so much success at our properties. We're continuing to greatly disrupt a stagnant self-storage industry," he adds.

As a result of the high quality nature of the portfolio, StorageBlue had many options in considering this financing and turned to the expertise of Richard and Justin Horowitz, at Cooper-Horowitz, to navigate Mruvka and his company through the financing process.

"We have had the pleasure of working with Alan and StorageBlue for more than 5 years now. I’m excited at the work we’ve been able to accomplish together, and the great things StorageBlue has on the horizon for the future that our team can be part of." says Richard Horowitz.

StorageBlue is accessible to Manhattanites and others in 5 convenient locations including: Jersey City facility is located at 190 Baldwin Avenue, Jersey City, New Jersey; Hoboken at 315 Coles St., Jersey City, NJ; Union City at 3322 Hudson Ave., Union City, NJ; Newark at 200 Mt. Pleasant Ave., Newark, NJ; and Garfield at 170 River Dr., Garfield, NJ. For more information about StorageBlue, visit StorageBlue.com

About StorageBlue

StorageBlue serves the New Jersey/New York Metropolitan area with five self-storage center locations in Jersey City, Hoboken, Union City, Newark, and Garfield. They offer secure self-storage with onsite managers, U-Haul truck rental, and moving supplies. With thousands of storage units in all sizes, from closets to oversized garages, StorageBlue has everything to fit customer’s needs. StorageBlue locations are open 365 days a year with convenient office hours.

StorageBlue was founded by E! Entertainment Founder and former CEO Alan Mruvka. Mruvka’s mission is to leverage his extensive pop culture and entertainment experience into StorageBlue’s mission, culture and growth.

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