Washington Street Investment Partners LLC Acquires Self Storage Portfolio For $98 Million From SROA Capital

A self-storage portfolio consisting of 15 properties was sold for $98 million. The portfolio spans three states: Kentucky, South Carolina, and Florida, and includes a total of 6,600 units. The overall square footage of the assets is 832,000, translating to a price per unit of $14,848 and a price per square foot of $118. The portfolio is approximately 90% occupied.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $98,000,000
• Buyer: Washington Street Investment Partners LLC
• Seller: Benjamin S. Macfarland - SROA Capital
• Brokers: Griffin Guthneck, Brian Somoza, Steve Mellon, Adam Roossien & Matthew Wheeler - JLL
• Units: 6,600
• Square Feet: 832,000
• Price Per Unit: $14,848
• Price Per Square Foot: $118

Washington Street Investment Partners acquired the portfolio from SROA Capital, which was one of the earlier fund investments for the seller. The deal was facilitated by the brokerage firm JLL, which represented the seller in the transaction.