LOS ANGELES — A fund sponsored by CBRE Investment Management has acquired a portfolio of 14 self-storage assets located in Southern California and Utah that totals 8,697 units.
The fund now owns 100 self-storage properties across the U.S., totaling 55,477 units. The seller and price were not disclosed.
The self-storage assets, which will operate under the StorQuest brand, are primarily single-story, drive-up units in the key infill markets of Los Angeles, the Inland Empire, San Diego and Salt Lake City. The portfolio includes a mix of indoor, climate-controlled units and outdoor units. The properties are currently 95 percent leased.
Nick Walker of CBRE’s National Self Storage Advisory Group represented the seller in the transaction. Tom Traynor and James Millon of CBRE’s Large Loans division, along with Talonvest, arranged the financing in the transaction.