Affinius Supplies $34M Loan to Refi Self-Storage Portfolio

By Isabelle Durso June 24, 2025 5:00 am

Affinius Capital Senior Vice President Tyler Figley and a 10 Federal self-storage property in Gibsonville, N.C. PHOTOS: Courtesy Affinius Capital; Courtesy Medalist Capital

Self-storage owner and operator 10 Federal Storage has scored a $33.5 million loan to refinance a portfolio of 13 self-storage facilities, Commercial Observer can first report.

Affinius Capital provided the loan for the 13 properties, which hold 3,600 units across Colorado, Georgia, North Carolina, Texas and Tennessee, according to a Tuesday announcement.

10 Federal will use the loan proceeds to “support the portfolio’s ongoing lease-up efforts and operational stabilization,” the announcement said.

Medalist Capital’s Don Williams, Tom McHugh and Mary Neill McKie arranged the transaction.

“This transaction represents a compelling opportunity to expand our presence in self-storage, a growing asset class that adds meaningful diversification to our portfolio,” Tyler Figley, senior vice president at Affinius, said in a statement.

“We look forward to partnering with 10 Federal Storage, a highly experienced team with a proven track record in developing and operating self-storage assets,” Figley added.

McHugh and a spokesperson for 10 Federal did not immediately respond to requests for comment.

The portfolio features a range of drive-up, multiple-access entry and climate-controlled self-storage units of various sizes, as well as parking spaces and outdoor storage options, according to the announcement.

News of the loan comes after a flurry of self-storage portfolio deals in the past year.

That includes Blackstone’s $185 million bridge loan for KKR, Wells Fargo’s $180 million commercial mortgage-backed securities loan for Mini Mall Storage, and PGIM Real Estate’s $100 million debt package for The Carlyle Group and Sabharwal Properties.