(Save the date: RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)
NEW YORK CITY-Phase two of CubeSmart’s $560-million acquisition of a 1.6-million-square-foot portfolio from locally based Storage Deluxe has closed, HFF said Wednesday. An HFF team led by senior managing director Aaron Swerdlin represented locally based Storage Deluxe in the sale of 16 unencumbered and six encumbered self storage assets, located mainly in the five boroughs.
First announced this past October, the sale positions CubeSmart, a REIT headquartered in Wayne, PA, as the leading self storage owner and operator in New York City with 27 assets. It leaves Storage Deluxe with seven properties; the firm has another six under construction.
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