Summerland Storage Partners Acquires Self Storage Portfolio From Mequity Companies For $160M

The transaction involved a self-storage asset portfolio consisting of seven locations across the markets of New York, Pennsylvania, Massachusetts, and New Jersey. The total sale price for the portfolio was $160,000,000, encompassing a total square footage of 586,000 square feet, equating to approximately $281 per square foot.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $160,000,000
• Square Footage: 586,000
• Price per Square Foot: $281
• Buyer: Summerland Storage Partners
• Seller: Mequity Companies
• Seller's Representatives: Richard Z Mishaan - RIZM LLC & Jeffrey Karp - Latitude Property Group
• Date of Sale: 12/23/2025
• Markets Involved: NY, PA, MA, NJ

The advisory team of RIZM LLC and Latitude Property Group played a critical role in advising Mequity Companies throughout the capitalization of the portfolio. They successfully structured financial solutions that included a partial sale of the portfolio along with the arrangement of mezzanine and preferred equity capital from a global asset manager, facilitating the retention of remaining assets by the buyer.