HFF completes USD560m sale of self-storage portfolio
HFF has closed the sale of the final property in a 22-property Storage Deluxe self storage portfolio.
The portfolio transaction totalled USD560m and was comprised of approximately 1.6 million square feet with assets located in New York, Pennsylvania and Connecticut.
HFF acted as the exclusive adviser to the seller, Storage Deluxe. CubeSmart was the purchaser. The conclusion of this transaction leaves Storage Deluxe, one of New York’s most recognised self storage brands, with seven operating self storage facilities in the boroughs of New York City and six additional facilities currently under construction.
The HFF investment sales team representing Storage Deluxe was led by senior managing director Aaron Swerdlin.
The legal team representing Storage Deluxe was led by Louis Perfetto of the law firm Cohen & Perfetto.
CubeSmart is a self-administered and self-managed real estate investment trust.
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