PHILADELPHIA—Self Storage Capital Partners has acquired a two-property self storage portfolio totaling 1,106 units in Pennsylvania.
Holliday Fenoglio Fowler arranged financing and joint venture equity totaling $19.2 million for the transactions, and closed the $11.65 million sale of one of the properties.
HFF arranged the $5 million joint venture equity partnership between Self Storage Capital Partners and a private equity firm and, on behalf of the partnership, placed the $14.2 million, fixed-rate acquisition financing with a CMBS lender for Penns Trail Self Storage and Lanco Mini Storage Center. Additionally, working on behalf of the seller, All-Time Self Storage, HFF closed the sale of Penns Trail Self Storage. Self Storage Capital Partners purchased the asset free and clear of existing debt.
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