Starwood team lends $672M for outdoor U.S. storage lots
Starwood Property Trust and Realterm provided a $672M loan for 78 U.S. industrial outdoor storage lots owned by Stonemont and Cerberus. The loan will refinance an existing $486M debt. Investors like Blackstone are drawn to such properties due to e-commerce growth. Realterm is expanding its lending as banks retreat.
