Patrick Lemp, MAI of Self-Storage Consultants recently brokered the sale of four Connecticut self-storage properties for Edgewood Capital of Southport, Conn. Lemp was the sole broker in the transaction. Two of the properties are located in Simsbury, and the others are in Bloomfield and Waterbury. The properties contain 1,186 units.
The properties were acquired by Albany Road Real Estate Partners, a recently formed private real estate firm based in Boston, Mass. Albany Road's president, Christopher Knisley, has extensive investment and management experience across multiple product types throughout New England. Knisley felt the Edgewood portfolio was a unique opportunity to acquire a critical mass of self-storage facilities, with upside, in the very difficult to penetrate New England market. Knisley plans to use this launch to become one of the dominant regional players in the New England self-storage market.
Knisley brought in J.R. Clisham of CT Self-Stor, a multi-generational, local self-storage owner and third party manager, to assist with the renovations and oversight of the properties. Clisham has extensive development and management experience and is on the board of the national Self-Storage Association.
Self-Storage Consultants provides brokerage, appraisal, and feasibility studies to the self-storage industry throughout New England.