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Summerland Storage Acquires Three-Property Portfolio for $45M
Affinius Capital LLC closed on a $45-million loan to finance Summerland Storage Partners’ acquisition of a Class A, three-property self-storage portfolio located in Lynbrook, NY; Port Jefferson Station, NY; and Framingham, MA. The proceeds of the loan were used to acquire the properties, which Summerland intends to hold long-term. The financing was arranged by Shawn Hill of The BSC Group.
Tyler Figley of Affinius Capital commented, “This transaction reinforces Affinius’ commitment to financing high-quality assets and expands our footprint in two of the country’s most supply-constrained metropolitan markets, where density, transit access, and diversified demand support the long-term strength of the self-storage sector. The institutional sponsorship of Summerland Storage Partners, along with the portfolio’s modern amenities, align with our investment philosophy and long-term vision.”
The portfolio includes three self-storage facilities totaling 274,396 rentable square feet and 3,141 units across six buildings. It is institutionally managed by Public Storage and CubeSmart.
- ◦Sale/Acquisition
- ◦Financing
