StorageMart, Carlyle Group sign $615M loan with Kayne Anderson for 15 properties in NYC

StorageMart and Carlyle Group through the entity 150 E 17th Property Owner, L.L.C. as borrower signed an acquisition loan with lender Kayne Anderson through the entity New York Self Storage Portfolio KCD, LLC valued at $615 million for 15 properties including the retail condo at 31-08 Northern Blvd in Long Island City, Queens, industrial building (E7) at 72 Caton Place in Windsor Terrace, Brooklyn, and industrial building (E7) at 34-01 College Point Blvd in Flushing, Queens.
The deal closed on January 22, 2026 and was recorded on February 6, 2026. The prior lender was PGIM Real Estate which held debt that had an original loan amount of $400 million. The 15 properties have 1,385,807 square feet of built space and 28,000 square feet of additional air rights according to a PincusCo analysis of city data. The loan price per built square foot is $443 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for StorageMart and Carlyle Group was Wonjoong Kim . The signatory for Kayne Anderson was Russell M. Reiter.

Prior sales, articles and revenue

Commercial Observer reported on January 29, 2026 that StorageMart paid $1 billion to Carlyle Group for the portfolio.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

For the tax lot buildings, 11 out of the 15 buildings received a initial certificate of occupancy in the last ten years. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Windsor Terrace, The bulk, or 43 percent of the 2.6 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 28 percent of the space. In sales, Windsor Terrace has had very little sales volume relative to other neighborhoods with $258.6 million in sales volume in the last two years. For development, Windsor Terrace has had very little major development activity relative to other neighborhoods.It had 18,298 square feet of commercial and multi-family construction under development in the last two years, which represents 0.70 percent of the neighborhood’s built space.

The block

On the tax block of 72 Caton Place, PincusCo has identified the owners of five of the eight commercial properties representing 172,356 square feet of the 257,136 square feet. The largest owner is Carlyle Group, followed by Canam Capital Partners and then Aview Equities.
On the tax block, there were two new building construction projects totaling 420,735 square feet. The largest is a 375-unit, 308,136 square-foot residential (R-2) building submitted by JEMB Realty and filed by Morris Jerome with plans filed September 16, 2021 and permitted January 4, 2024. The second largest is a 131-unit, 112,599 square-foot residential (R-2) building submitted by Aview Equities and filed by Abraham Leifer with plans filed May 18, 2021 and permitted April 15, 2022.

The majority, or 66 percent of the 257,136 square feet of built space are industrial buildings, with specialty buildings next occupying 33 percent of the space.

The borrower

The PincusCo database currently indicates that Carlyle Group owned at least 396 commercial properties with 3,636 residential units in New York City with 4,238,912 square feet and a city-determined market value of $1 billion. (Market value is typically about 50% of actual value.) The portfolio has $872.9 million in debt, with top three lenders as Invesco, PGIM Real Estate, and Prudential Financial respectively. Within the portfolio, the bulk, or 34 percent of the 4,238,912 square feet of built space are elevator properties, with industrial properties next occupying 28 percent of the space. The bulk, or 50 percent of the built space, is in Brooklyn, with Queens next at 30 percent of the space.
The PincusCo database currently indicates that Storagemart owned at least 37 commercial properties in New York City with 4,232,475 square feet and a city-determined market value of $530.7 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 98 percent of the 4,232,475 square feet of built space are industrial properties, with specialty properties next occupying 2 percent of the space. The bulk, or 72 percent of the built space, is in Manhattan, with Brooklyn next at 17 percent of the space.

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