Affinius Capital, Axonic Capital Loan $45M for San Fran Self-Storage Property

DECA Companies, a San Francisco-based industrial developer, has secured $45.2 million in construction financing to build Extra Space McKinnon Avenue, a 1,600-unit self-storage facility in San Francisco, Commercial Observer has learned. 

Affinius Capital and Axonic Capital provided the loan, a first mortgage that was arranged by Talonvest Capital’s Kim Bishop. 

Tyler Kimball, managing director at Axonic Capital, called the Extra Space McKinnon Avenue development “a standout project,” and emphasized that the San Francisco self-storage market is currently experiencing supply constraints, as it has not delivered a new self-storage facility in 20 years. 

“This investment reflects Axonic’s commitment to creative, well-structured lending solutions that support strong sponsors and institutional-quality development,” added Kimball. 

Affinius Capital Senior Vice President Tyler Figley noted in his own statement that not only does the San Francisco self-storage market have “strong fundamentals and high barriers to entry,” but the development will also have immediate access to U.S. Highway 101 and Interstate 280 to take advantage of demand from both densely populated residents and small business owners across the city.

Located at 2270 McKinnon Avenue in San Francisco’s Produce Market neighborhood, the 175,000-square-foot self-storage facility will be managed by and carry the brand of Extra Space, a national self-storage company. The five-story building will feature light industrial space on its ground floor with four stories of self-storage above, according to Deca’s website. 

“We listened closely to the community throughout the process and deeply appreciate the trust they have placed in Deca to deliver a project that serves San Francisco’s needs,” said Stanley Zheng, vice president of Deca Companies. 

 Brian Pascus can be reached at bpascus@commercialobserver.com.