After executing over $100 million of commitments over the last six months, TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, announced that it is serving as the exclusive financing partner of Andover Storage Lending, a recently launched platform that seeks to originate non-recourse financing for self-storage sponsors nationally. This partnership meaningfully expands TPG Angelo Gordon’s relationship with Andover Properties, a leading owner and operator of storage properties nationwide.

Andover Storage Lending provides bridge and construction financing without requiring third-party management or bank deposits. Financing is available for single assets or portfolios of any size and is available for assets across the U.S. The platform combines Andover Properties’ 20-year track record of investing in self-storage facilities with TPG Angelo Gordon’s $60 billion credit platform and deep structured credit investment capabilities to originate structured financing solutions for self-storage owners.

David Busker, TPG Angelo Gordon’s Head of Commercial Real Estate Debt, said, “As demand for new debt financing solutions among self-storage facility owners continues to grow, we believe that Andover Storage Lending is uniquely positioned to fill a capital void by ensuring that borrowers receive the financing they require. We are excited to deepen our partnership with Andover Properties, a leading storage owner-operator, and aim to deliver frictionless specialty financing to the self-storage industry.”

Since launching in early 2024, Andover Storage Lending has originated or committed to loans totaling over $100 million. Closed transactions include three bridge loans and two construction loans. Each property is or will be a modern, climate-controlled facility located in a high-traffic corridor, and run by an experienced management team.

Brian Cohen, President and CEO of Andover Properties, said, “We are thrilled to expand our relationship with TPG Angelo Gordon and are confident that our combined track records and sector expertise will establish Andover Storage Lending as the go-to capital provider for non-recourse bridge and construction financing.”

Andover Storage Lending is actively quoting bridge and construction loans for self-storage facilities across the U.S.