News: Front Section
Posted: July 8, 2016
SVN sells four-property self storage portfolio
Boston, MA Connie Neville, SVN |C.M. Neville & Associates, Inc., Nick Malagisi, SVN |Commercial Realty, Hans Hardisty, SVN |Deegan-Collins Commercial Realty and Patrick Lemp, Valbridge Property Advisors|Italia & Lemp Inc. joined forces to sell a self-storage portfolio of four properties located in New York and Connecticut.
The portfolio consisted of 228,037 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.
The four brokers worked cooperatively to list and close this major transaction which included the assumption of one CMBS loan in less than five months.
Nick Malagisi, product council chair for the SVN National Self-Storage Team said, “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.”
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