HFF Closes Sale of Four-Property Storage Portfolio in Houston Area
HFF marketed the offering exclusively on behalf of the seller, a joint venture comprised of Private Mini Storage and Clarion Partners. CubeSmart purchased the properties for an undisclosed amount free and clear of debt.
The HFF team representing the seller was led by senior managing director Aaron Swerdlin, managing director Doug McCarron and director Barbara Guffey.
Private Mini Storage is a Texas-based self-storage company operating since 1986. The company specializes in climate controlled self-storage units, boat self-storage, RV self-storage, mini-office warehouse and wine self-storage space rentals.
Clarion Partners has been a leading U.S. real estate investment manager for 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S. as well as a presence in Brazil, Mexico and London. With more than $24 billion in total assets under management, for more than 200 institutional investors both domestic and international, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum. More information about the firm is available at www.clarionpartners.com.
About CubeSmart
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 479 self-storage facilities across the United States and operates the CubeSmart Network, which consists of approximately 850 additional self-storage facilities. CubeSmart services include storage customization, logistics services, comprehensive moving services, organizational services and office amenities. The company’s self-storage facilities are designed to offer affordable, easily accessible, secure, and in most locations, climate-controlled storage space for residential and commercial customers, as well as boat storage and mini storage. According to the 2011 Self Storage Almanac, CubeSmart is one of the top four owners and operators of self-storage facilities in the U.S.
About HFF
Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales, and commercial loan servicing. www.hfflp.com.
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