12:08 ET Banner Real Estate Group Expands Self-Storage Portfolio with Strategic Acquisition in St. Paul, MN

, /PRNewswire/ -- Banner Real Estate Group, and/or its affiliated entities, is pleased to announce the successful acquisition of an 88,514-square-foot, drive-in, climate-controlled self-storage facility located at 875 Montreal Way in St. Paul. This acquisition was completed in partnership with RGA ReCap Inc. (ReCap Real Estate Investments) on behalf of Reinsurance Group of America, Inc. The deal marks another milestone in Banner's strategic expansion into high-growth markets across the United States. "This acquisition reflects our commitment to identifying and investing in premier self-storage assets in markets with strong fundamentals," said Trent Acuff, CIO of Banner Real Estate Group. "We're excited to partner with RGA ReCap on this deal as we continue building a portfolio that includes self-storage facilities and multifamily properties in locations across the U.S. with compelling demographics and favorable supply-demand dynamics." Originally redeveloped from a warehouse and office space into Class A self-storage in 2020, the property offers significant value-add potential through lease-up and rate growth upside. Located on 8.3 acres at the intersection of the Highland Park and Summit Hill neighborhoods—just 3.6 miles from downtown St. Paul and 7.5 miles from downtown Minneapolis—the facility is ideally positioned to serve a thriving market. Within a 3-mile radius, there are 14,300 multifamily units, with a 14%+ increase in supply under construction or in the pipeline, and over 55,000 households. The acquisition underscores Banner's strategy to grow its footprint in multifamily, self-storage, and industrial properties nationwide, focusing on locations with compelling demographics and favorable supply-demand dynamics. Highland Bank of St. Paul provided the debt financing. Talonvest Capital, Inc. served as the mortgage broker. About Banner Real Estate GroupFounded in 1989 and based in Chicago, Banner Real Estate Group and/or its affiliated entity(ies) ("Banner") acquires, manages, and develops multifamily properties, acquires and develops self-storage properties, and acquires industrial properties, across the U.S. Banner is a family-owned, independent real estate investment firm led by an experienced, tenured team and a majority independent Board of Directors. With over $2 billion of investments since inception, Banner's steadfast focus has been on capital preservation, value creation, and wealth generation for our high-net-worth investors, family offices, and institutional partners. Media Contact:Maureen Richardson[email protected](914) 686-5599 SOURCE Banner Real Estate Group