A self-storage facility in the Port Morris neighborhood of the Bronx, NY, sold for $19 million, which is more than triple the price for which it was sold five years ago.
The Real Deal reported that Washington, DC-based MRP Realty bought the 88,000-square-foot facility at 845 E. 136th St. from Tuck-It-Away Associates, which purchased the property for $5.3 million in 2012. MRP financed the acquisition with a $13 million loan from East West Bank.
Strategic Storage Growth Trust purchased an 840-unit self-storage facility in Nantucket, MA.
Located at 6 Sun Island Road, the 93,000-square-foot facility was built in 2002 on 1.7 acres. The property was about 91 percent occupied when the acquisition was completed.
Financial terms of the deal weren’t disclosed. The name of the seller wasn’t available.
“This is the premier self-storage facility on Nantucket Island, with many safety features and 17 climate-controlled wine storage units that serve the renowned Nantucket Wine & Food Festival, which draws attendees and participants from throughout New England and across the nation each year,” said Wayne Johnson, chief investment officer at Strategic Storage Trust.
The Strategic Storage Growth Trust portfolio consists of 21 self-storage facilities in 10 states, with about 13,700 units in roughly 1.6 million net rentable square feet. The REIT is affiliated with self-storage operator SmartStop Asset Management.