$175M East Coast self-storage sale

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Acadia Realty Trust recently paid $175 million for a portfolio of 11 self-storage properties located in New York and New Jersey. Sold by American Storage Properties North LLC, the 933,000-square-foot portfolio includes six newly constructed buildings that were in the lease-up phase; one facility still under construction; and four converted warehouses. The core-plus portfolio was 72 percent leased at the time of sale, according to a press statement. *** What's your opinion? Leave your comments below or send a letter to the editor. ...