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| Barbara Guffey |
PHILADELPHIA, PA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $35 million
sale of and secured $25.25 million in acquisition financing for a
five-property, Storage Depot-branded, self-storage portfolio totaling 310,257
rentable square feet in Harrisburg, Pennsylvania.
HFF marketed the portfolio
on behalf of the seller, PFG Capital, LP.
Self Storage Capital Partners purchased the assets.
Additionally, working on behalf of the new
owner, HFF placed the 10-year, fixed-rate, 75-percent LTV acquisition loan with
a CMBS lender.
The Storage Depot
portfolio comprises properties at 6325 Allentown Boulevard, 32 Milroy Road,
4401 North 6th Street, 350 South 7th Street and 115 Cumberland Parkway.
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| Storage Depot Portfolio Property |
All the facilities are located within a
10-mile radius of the capitol building in Harrisburg. The portfolio consists of 243 climate
controlled units, 2,271 non-climate controlled units, 87 income-producing
surface parking spaces and eight warehouse/commercial units totaling 14,054
square feet. Additionally, there is an
expansion area totaling 28,880 square feet.
The HFF team representing
the seller was led by managing director Richard
Schontz, director Barbara Guffey
and associate director Matthew
Weckesser.
The HFF debt placement
team representing the borrower was led by managing director James Conley.
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| Storage Depot Portfolio Property |
“This is the third
transaction our team completed in the past 14 months for PFG Capital, totaling
$70 million,” Schontz said. “This
portfolio is a great fit for Self Storage Capital Partners and is nearly
doubling their holdings within the Mid-Atlantic Region.
In addition, James Conley played a major role in
this transaction by placing debt for the buyer in very choppy CMBS Market on
the same terms as presented at the time of application.”
For a
complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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