MJ PARTNERS ARRANGES SALES OF FIVE SELF-STORAGE PROPERTIES FOR $41M

CHICAGO — MJ Partners has arranged the acquisitions of five Chicago self-storage properties, including one location with a Walmart Express store, for a combined total of $41 million. Buffalo, New York-based Sovran Self Storage, a public self-storage REIT, purchased four of the self-storage properties, and one property was sold to Chicago-based Harrison Street Real Estate’s Core Property Fund. The portfolio includes: 253,320 rentable square feet of self-storage space with 3,164 storage units; a 15,000-square-foot Walmart Express and 84,586 square feet of commercial space. The portfolio also consists of a combination of new developments and renovations performed by John S. Mengel on behalf of Northfield, Ill.-based JSM Venture Inc. and the Matrix Midwest Storage Fund.