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.
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