Four firms sell self-storage portfolio: 2,485 units

Boston, MA Connie Neville of SVN|C. M. Neville & Associates, Inc.; Nick Malagisi of SVN|Comm’l. Realty; Hans Hardisty of SVN|Deegan-Collins Comm’l. Realty and Patrick Lemp of Valbridge Property Advisors|Italia & Lemp Inc. joined forces to sell a significant self-storage portfolio of four properties in New York and Connecticut. The portfolio consisted of 228,037 net rentable s/f in 2,485 units.

The properties were offered unpriced and were widely marketed to self-storage REITs, pubic companies, funds and individual self-storage investors.

According to Nick Malagisi, product council chair for the SVN National Self-Storage Team, “This portfolio attracted national attention because of its size, the strategic locations, the consistently high occupancies and revenue overall and the pride of ownership evident at each facility.”

The four brokers worked cooperatively to list and close this major transaction which included the assumption of one CMBS loan in less than 5 months.