Fantini & Gorga recently arranged $6.385 million in acquisition financing for two self storage properties in southeastern Mass. on behalf of its client, Storage Opportunities Partners LLC (StorageOp), which is a regional owner and operator of self storage facilities in the New England and southeastern Michigan markets. The real estate involved in this transaction is located in Falmouth and Fairhaven.
The Falmouth property consists of five buildings on 4.88 acres, with 79,495 s/f of rentable area and 749 units. Originally developed in 1997 and expanded in 2001, the subject is located on heavily trafficked Teaticket Hwy., also known as Rte. 28.
The Fairhaven property is located on Lambeth Park Rd. with visibility from Rte. 240, a major connecting route to Rte. I-195. The facility contains 41,583 rentable s/f in six buildings (with 337 units) on 4.06 acres. There are also 24 outside storage spaces and a separate leasing office building.
StorageOp now owns 13 facilities. Operating as Storage Pros Self Storage, the buyer focuses on properties that are located within select target markets.