DALLAS– JLL Capital Markets announced that it has completed the sale and financing of a five-property self-storage portfolio totaling 2,327 units in the metropolitan areas of Houston, Texas, and Providence, Rhode Island.
JLL represented the seller, Madison Capital Group and affiliates of Cerberus Capital Management, in the sale of the properties. Additionally, JLL worked on behalf of the buyer to secure acquisition financing.
The portfolio includes three Texas properties located at 2919 S Hwy 146 in Bacliff and 12610 Tanner Rd. and 4100 West 34th in Houston. The Rhode Island properties are located at 3346 Pawtucket Ave. in East Providence and 1115 Main St. in Hope Valley.
All of the properties were branded under the Go Store It name and consist of single and two-story drive-up properties that are well occupied. Completed between 1998 and 2014, the facilities total over 340,000 square feet and offer a mix of climate-controlled and non-climate-controlled units, on-site security and RV and boat storage at select properties.
The JLL Capital Markets Self Storage team representing the seller was led by Directors Matthew Wheeler and Adam Roossien and Senior Managing Directors Brian Somoza and Steve Mellon.
JLL’s Self Storage Debt Advisory team representing the buyer/borrower was led by Managing Director Griffin Guthneck.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
