A pair of mini-storage projects in southwest Little Rock changed hands in two deals totaling $5.2 million.
SSCP Geyer Springs Rd LLC acquired the 376-unit project at 8015 Geyer Springs Road for $3.16 million, and SSCP Leon Circle LLC purchased the 562-unit project at 6100 Leon Circle for $2.09 million.
The affiliates of Philadelphia’s Self Storage Capital Partners bought the properties from Little Rock Self Storage LLC of Cordova, Tennessee.
The deal is financed with a five-year loan of $7 million from Citigroup Global Markets Realty Corp. of New York.
The 4.88-acre Geyer Springs development previously was tied to an October 2014 mortgage of $1.88 million held by Centennial Bank of Conway.
The property was acquired for $2.35 million more than two years ago from Cubby Hole USA 2 Ltd. of Hallsville, Texas.
The 3.34-acre Leon Circle development previously was linked with a November 2014 mortgage of $1.41 million held by Centennial.
The property was purchased for $1.7 million more than two years ago from Wood Stone Little Rock LLC of Mount Kisco, New York.