NKF Capital Markets Self Storage Group has completed the sale of a well-established 488-unit self storage facility located in the Boston suburb of Peabody, MA. The 39,600 square foot facility includes a three-storay building on 1.6 acres of land. The property was purchased by a private equity group.
NKF Capital Markets professionals Aaron Swerdlin, Vice Chairman, Kenneth Cox, Executive Managing Director, and Geoffrey Millerd, Vice Chairman, led the national self storage capital markets team representing the seller.
"Interest in the facility was strong with a wide pool of potential purchasers including owner/operators, private equity funds and public REITs," said Cox. "Given the facility's strategic position between primary commercial district, multifamily housing and several bedroom neighborhoods, the purchaser will continue to maintain high occupancies with positive rate growth."
"The storage industry continues to be very appealing to the institutional community as investor confidence continues to be elevated." added Cox.
NKF Capital Markets Self Storage is a leading brokerage and advisory group that focuses on selling, refinancing and debt/equity placement for self storage clients across the United States. With $5.8 billion in completed self storage transactions, the diverse and unmatched expertise of the team provides proficiency for transactions ranging from individual facilities to multi-state portfolios.