Wrightwood Capital provides $13.236 million for self storage portfolio

Wrightwood Capital has provided $13.236 million to finance the acquisition of a self storage portfolio with locations in Detroit, Michigan and Boston. The Storage Opportunity Partners Portfolio consists of four self storage facilities with a total of 1,972 storage units, combined for over 220,000 s/f. The Boston area properties are located in Milford and Brockton, small suburbs to the south and southwest of Boston with visibility and surrounded by a variety of national retailers. The Milford facility is located at 458 Fortune Blvd. and has 463 units, for a total of 45,500 s/f. The Brockton facility, located at 145 Campanelli Industrial Dr., has 661 units, for a total of 69,720 s/f, housed in eight single-story buildings. The Detroit area properties are located in Taylor and Romulus. The two properties total 105,600 s/f of space. The sponsor plans to complete capital improvements to all of the properties, including renovating the leasing office, repaving the parking lots, improving the landscaping, and increasing security, bringing the properties to above market levels.