Los Angeles, CA-based Kayne Anderson Capital Advisors LP purchased three self-storage facilities in the Milwaukee, WI, area from Boston, MA-based Davis Marcus Partners Inc. for $34.25 million, according to BizTimes Milwaukee. The facilities are at 1131 N. Eighth St. in Milwaukee ($13 million); 6805 S. 27th St. in Franklin, WI ($12.5 million); and 232 S. Curtis Road in West Allis, WI ($8.75 million). Details about the amount of square footage and the number of storage units weren’t available. An online search shows Extra Space Storage manages all three facilities.
Self-storage buildings sell for $34.4 million https://t.co/ksyfTNVCQI pic.twitter.com/dylCsPt5od
— BizTimes Milwaukee (@BizTimesMedia) June 22, 2018
ESS Bristol Hollywood LLC, an affiliate of Extra Space Storage, purchased a newly built self-storage facility in Hollywood, FL, from South Dixie Storage LLC, an affiliate of Columbia, SC-based Taylor/Theus Holdings Inc., for $11.8 million, according to the South Florida Business Journal. The facility, at 1440 S. Dixie Highway, has 60,525 net rentable square feet and 653 storage units.
Brooklyn, NY-based Merit Hill Capital LP purchased Safe-Keeping Self Storage in Baytown, TX, from Houston, TX-based Weiss Realty Group Inc. for an undisclosed amount. The facility, at 120 S. Alexander Drive, has 782 units in 76,485 square feet. The property includes eight office/warehouse units. An online search indicates the facility is now managed by Extra Space Storage. Steve Mellon and Brian Somoza led the JLL Capital Markets team that handled the sale.
A-1 Mini Storage in Selma, AL, has a new owner. The names of the buyer, an out-of-state LLC, and seller weren’t available. The purchase price wasn’t disclosed; the property was listed at nearly $3.3 million. The 583-unit facility, at 1112 Singleton Drive, features 87,321 rentable square feet with four offices/suites. The roughly 5-acre property has room for expansion. Michael Morrison of Hilton Head Island, SC-based Midcoast Properties.
A Lakewood, NJ-based buyer acquired Keep Self Storage in Houston, Texas. The facility is nineteen miles north of downtown Houston. The facility offers 332 climate-controlled and non-climate-controlled units in 33,934-square feet and was 90 percent occupied at time of sale. Bill Bellomy and Michael Johnson of Bellomy & Co. procured the buyer and represented the Provo, UT based seller.
