Newmark Organizes Sale of 16-Property Self-Storage Portfolio in New England

Order Reprints … November 5, 2020

Newmark has actually brokered the sale of a 16-property self-storage profile in New England. The sales price was not disclosed. The portfolio includes greater than 850,000 square feet across Massachusetts, Connecticut and also Rhode Island.

Aaron Swerdlin as well as Kenneth Cox of Newmark stood for the seller, Storage space Pros, in the transaction. The portfolio was obtained by up and down incorporated personal equity property investment firm SROA Capital. The purchase begins the firm’s first investment into SROA’s 8th dedicated self-storage fund SROA Resources Fund VIII LP and will certainly be handled under its brand Storage space Services of America (SROA).

“This deal presented an unusual possibility to develop mass in the New England self-storage market in one purchase,” stated Newmark’s Cox. “When combined with heightened rate of interest in the storage space industry as it fundamentally surpasses various other property fields, the sale garnered substantial rate of interest from all types of funding deploying right into the room and also resulted in a successful result for our customer.”

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