The company is planning to institute new management and upgrade the properties
April 15, 2015
- Elite Stor Capital Partners LLC has acquired 17 self-sotrage facilities in KY
, OH and plans to add modern technology and other features, according to a press release. The company has received a $26.2 million commercial mortgage-backed securities (CMBS) loan for the acquisition.
"Over the last 12 months, our company has increased its portfolio investments from five properties to 35 properties, and this transaction was critical to our company's continuing growth plan,” said CEO Benjamin Macfarland.
The funds were provided by New York-based Greystone, a real estate lending, investment and advisory firm.
Elite Stor mainly focuses on acquisitions of self-storage properties as well as direct-equity investments with developers and operators.
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