Sold! Gantry lends $40 million for purchase of four facilities in 1031 exchange

Bruce Goldberg
Published May 17, 2023

Irvine, CA-based Gantry secured $40 million in acquisition financing for four purchases of self-storage facilities in Tennessee and Florida that total 286,000 rentable square feet. The properties include three Storelocal Self Storage properties in Franklin and Spring Hill, TN plus a U.S. Storage Center site in Tampa, FL. Andy Bratt and Amit Tyagi of Gantry arranged the loans through separate life insurance companies on behalf of the borrower, a private family that is purchasing the properties in a 1031 exchange. Source: REBusinessOnline

Andover Properties bought a 23,500-square-foot self-storage facility in Fayetteville, NC. It operated as A-1 Lakeview Safe Storage and will be rebranded under Andover’s Storage King USA brand. The property has 132 drive-up and climate-controlled units, and sits on 9-plus acres. The Storage King USA portfolio totals 155 facilities in 18 states, including 14 in North Carolina. Source: connectcre

In Pennsylvania, a York County company purchased three self-storage facilities in Jonestown and Fredericksburg for $4.69 million. The sellers were Dane A. and Ilse A. Di Angelis and the buyers were Moove In Partners Jonestown LLC, a real estate holdings subsidiary of Move In Self Storage. The sites are at 10696 Allentown Blvd. and 10677 Allentown Blvd. in Jonestown, and 2264 State Route 22 in Fredericksburg. Also, Moove In Self Storage recently bought a 461-unit facility in Swatara Township, Dauphin County, for $7.84 million. Storage Sense formerly operated that facility, which is at 2517 Sycamore Lane. Source: LebTown

Compass Self Storage – Fairburn, GA

Compass Self Storage has purchased a self-storage center at 7935 Senoia Road I Fairburn, GA. It’s the company’s 19th Compass Self Storage location in Georgia and the 103rd nationwide. It opened in April 2022 and has more than 85,900 NRSF. Compass is part of the Amsdell Group LLC. Source: InvestorsObserver

Marcus & Millichap Real Estate Investment Services of North Carolina Inc. announced the sale of A-1 Lakeview Safe Storage, a 23,500-square-foot self-storage facility in Fayetteville, NC. Jonathan Fawley, Brett R. Hatcher, Gabriel Coe and Nathan Coe had the listing. The seller is an LLC. Ben Yelm, North Carolina broker of record, helped close the transaction. A-1 is about 10.5 miles southwest of downtown Fayetteville. The facility has 46 climate-controlled self-storage units, 121 non-climate-controlled units and 15 outdoor parking spaces that cover 23,500 NRSF, with additional room available for expansion. The facility was built in 2007 and is 95% occupied. Source: Marcus & Millichap

Safeguard Self Storage purchased Citrus Park, 7014 Gunn Highway, Tampa, FL. It has 100,000 gross square feet (74,500 NRSF) there are 789 units. Safeguard has 88-plus locations in six states, with more than 4.5 million square feet of storage. Source: Safeguard Self Storage

Bruce Goldberg

Bruce Goldberg is a freelance writer and editor based in Denver. He worked in newspapers and magazines as both a business writer/editor and sportswriter/editor for 35 years.

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