Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a 27-property self storage portfolio totaling 1.7 million square feet and 12,171 units in Colorado, Georgia, Indiana, Kansas, Louisiana and Texas.
The HFF team marketed the property on behalf of the seller, a joint venture partnership between certain funds managed by Westport Capital Partners LLC and Store Here Management, LLC.
The portfolio, which currently operates under the Store Here brand, is 80.6-percent-occupied and features fully integrated amenities, including gate access, security cameras, climate-controlled and/or drive-up units, onsite management and R/V and surface parking. The properties are in eight MSAs, including Colorado Springs, Colorado; Atlanta, Georgia; Indianapolis, Indiana; Kansas City, Kansas; Shreveport, Louisiana; and Austin, Dallas and San Antonio, Texas
The HFF self storage team representing the seller included senior directors Barbara Guffey and Tom Doyle. Additional local market expertise was provided by senior managing directors John Merrill and Jason Nettles and managing directors Sean Fogarty and Jules Sherwood.
“Barbara and her team did a fantastic job managing a complicated process,” said Russ Bernard, managing principal of Westport Capital Partners LLC.
“The quality of the assets, embedded upside, and most of all the economy of scale is what attracted numerous investors to the portfolio,” Guffey said. “The ability to acquire 1.7 million square feet in one transaction aligns with the buyer’s strategic growth plan, and provides an opportunity to implement and capitalize upon their operational platform.”
HFF, acting by and through Holliday GP Corp., is an Indiana and Texas licensed real estate broker.
About Westport Capital Partners LLC
Westport Capital Partners LLC is a real estate investment firm specializing in the opportunistic real estate arena. Westport provides domestic and international investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Los Angeles, California, Wilton, Connecticut, Bozeman, Montana and London, England. For more information regarding Westport Capital Partners LLC, please visit www.westportcp.com.
About Store Here Management LLC
Store Here Management LLC, a division of RHW Capital Management Group LLC, is a property management company with an acquisition and analysis division focusing on the self-storage industry. RHW was founded in 2012 by industry veterans with over 70 years of combined experience providing a stable source of funding and management. Store Here Management owns and manages 19 properties in seven states. RHW plans to expand the Store Here brand with an aggressive strategy that includes acquiring additional assets and securing new management contracts. For more information call James J. Hanrahan (657) 224.9444 or visit https://www.storehere.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.