Cerberus backs £103m Cinch self-storage portfolio refinancing

Clear Sky Capital has secured £103m loan to refinance its padlock self-storage portfolio. The facility was provided by an affiliate of Cerberus Capital Management. All of the stores within the deal, comprising 18 assets across London, the South East, and South West, operate under the Cinch Self Storage brand. The warehouses are strategically positioned near arterial routes and are bolstered by high local demand and low levels of competition. Daniel Dejanovic, head of real estate advisory at Cerberus, said: “We continue to see strong fundamentals in the self-storage sector and support Clear Sky Capital on this venture.” JLL’s debt and structured finance team led the refinancing on the transaction.