July 16, 2019
NKF arranged the sale of a 50-property self-storage portfolio spread across six states. The portfolio, which measures more than 3.1 million square feet, is located in Tennessee, Georgia, North Carolina, South Carolina, Michigan and Florida. The sales price was not disclosed.
The facilities, which include a total of 21,787 units, will be operated under the Storage Rentals of America brand.
Aaron Swerdlin and Kenneth Cox of NKF’s Self Storage group represented the seller, a joint venture between and undisclosed institutional investment advisor and a publicly-traded storage real estate investment trust. The buyer of the portfolio was a JV between a state pension fund and an investment fund.
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