Investment firm Hines has stuck a deal to acquire a three-story self-storage facility in Cerritos, California for $91 million.
CBRE, which brokered the deal, called the sale of the Extra Space Storage asset, the "largest single-property self-storage sale in history."
The property was first purchased by a joint venture between Carlotte-based Barings and Los Angeles-headquartered Capital 360 in 2018. CBRE represented them both on the deal.
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