Extra Space Storage to Open 891-Unit Facility in Glen Rock, New Jersey
Why this matters
Capital markets activity continues to be defined by the rotation from bank balance sheets to non-bank lenders. Private credit funds have raised record dry powder; banks have tightened CRE underwriting standards for the sixth consecutive quarter. The result is a market where well-sponsored deals clear, and marginal credit pays a meaningful spread to do so. For LPs, the allocation conversation has shifted decisively toward real estate debt, with equity allocations being deployed more selectively into operator-led platforms.
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GLEN ROCK, N.J — Extra Space Storage will open an 891-unit facility in the Northern New Jersey community of Glen Rock. Shadowbrook Capital is developing the three-story facility at 161 Harristown Road, which will feat…
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