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Hawthorne Residential Partners (HRP) acquired 2 StoreSmart Self Storage Facilities
The self-storage facilities has been sold for $12 million

June 10, 2015: HRP/Go store It announces the purchases of two properties in Wilmington, N.C from StoreSmart Self Storage for $12M.

StoreSmart Self Storage manages over 20 facilities in six states. 

According to Phil Payonk, HRP’s chief investments officer, the self storage properties will be rebranded as “Go Store It.” 

The company has a plan of adding facilities to the properties, including coffee bars and free use of a moving truck for tenants.
Payonk said the source that, “we want to see what our tenants demand and then react to it with improvements”.

Hawthorne Residential Partners operates apartment properties in the mid-Atlantic and Southeast for third-party clients, institutional investors, lenders and private-investment groups.

StoreSmart operates storage facilities in various states such as Arkansas, Florida, Georgia, Illinois, North Carolina, and South Carolina. Its locations are operated by Reliant Real Estate Management LLC.

Read complete article in: http://www.insideselfstorage.com