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Simply Buys Four Storage Properties for $55M

CHICAGO-A partnership of Investcorp Real Estate Group and Storage Today is selling four self-storage properties in Chicago, Bolingbrook and Countryside.

By Gina Kenny | Updated on July 31, 2007

CHICAGO-A joint partnership between Investcorp’s US Real Estate Group, based in New York City, and Scottsdale, AZ-based Storage Today has sold a portfolio of four self-storage facilities. Simply Self Storage, headquartered in Orlando purchased the portfolio. The sales price was $55 million, and the cap rate was in the mid-5% range, says a Simply spokeswoman.

The four properties have 3,747 units combined with a total 368,647 sf, according to a released statement from Simply Self Storage. The company has more than 14.7 million sf of storage space with more than 200 properties in 18 states and Puerto Rico. The properties are located at 565 W. Boughton Rd. in Bolingbrook with 84,838 net rentable sf; 9801 W. 55th St. in Countryside with 97,341 net rentable sf; 3647 N. Western Ave. in Chicago, with 88,228 net rentable sf, and 407 W. 25th St. in Chicago with 98,240 net rentable sf.

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