Midgard Lands $86M Refi for Southeast Self Storage Portfolio
The collection comprises 701,200 net rentable square feet.
Reliant Real Estate Management has obtained an $86 million refinancing loan for a nine-property Midgard Self Storage portfolio spanning 701,206 net rentable square feet across Georgia, Florida and North Carolina. Gantry arranged the note.
New York Life Insurance Co. provided the variable-rate, full-term, interest-only bridge loan, according to public records. The credit includes a replenished interest reserve, as well as extension options.
The portfolio totals 5,975 units and encompasses a mix of new construction, expansions and value-add properties. All assets are in the process of lease up and stabilization.
Common amenities across the portfolio include ground-level units, video surveillance, electronic gate access, on-site management and online registration services. Most facilities also offer climate-controlled storage, while select properties feature drive-up units and vehicle parking. Storage units range from 25 to 400 square feet. All properties opened after 2000.
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The portfolio comprises four Florida properties, four Georgia facilities and one asset in North Carolina:
- Midgard Self Storage Brevard — 196 Ecusta Road, Brevard, N.C.
- Midgard Self Storage Covington — 5272 Highway 20 S., Covington, Ga.
- Midgard Self Storage Augusta — 2709 Gordon Highway, Augusta, Ga.
- Midgard Self Storage Fayetteville — 235 Highway 314, Fayetteville, Ga.
- Midgard Self Storage Gainesville — 2761 Dawsonville Highway, Gainesville, Ga.
- Midgard Self Storage Naples — 6822 Collier Blvd., Naples, Fla.
- Midgard Self Storage Kissimmee — 2925 N. Poinciana Blvd., Kissimmee, Fla.
- Midgard Self Storage Spring Hill — 2465 Anderson Snow Road, Spring Hill, Fla.
- Midgard Self Storage DeLand — 530 S. Spring Garden Ave., DeLand, Fla.
Gantry’s Principals Andy Bratt and Amit Tyagi, together with Associate Sean Kuang, represented the borrower.
The Southeast shows high-supply
Florida recorded the Southeast’s highest self storage supply levels as of May 2026, a recent report shows. Deliveries over the trailing 12 months represented 8.3 percent of starting inventory in Sarasota–Cape Coral, 6.1 percent in Tampa and 5.6 percent in Orlando. Among the other Southeast metros analyzed, the share stood at 3.5 percent in Atlanta, 2.9 percent in both Miami and Nashville, and 1.5 percent in Charlotte.
Average annualized advertised rents per square foot increased month-over-month in all seven markets in May. Miami posted the highest rate, at $21.83, followed by Tampa at $15.83, Nashville at $15.57 and Orlando at $15.44. Sarasota–Cape Coral averaged $14.69, while Charlotte and Atlanta posted $13.53 and $13.32, respectively. Nashville recorded the strongest gain, at 1.5 percent, followed by Atlanta at 0.9 percent and Tampa at 0.8 percent.
Sarasota–Cape Coral and Nashville were also among the top emerging self storage markets of this year.
