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Cornerstone Self Storage in Westerly, Rhode Island, Sold to The Storage Investment Group
The facility comprises 48,025 square feet in 359 units

July 11, 2021: Cornerstone Self Storage in Westerly, Rhode Island, sold to The Storage Investment Group LLC (SIG), a Philadelphia-based private-equity development and investment firm. The facility built on 1.8 acres at 234-236 Post Road, comprises 48,025 square feet in 359 units. 

The property, constructed in phases between 1982 and 2015, also has 28 vehicle-storage spaces and a 1,000-kilowatt solar-panel system. 

JLL Capital Markets, a full-service global provider of capital solutions for real estate investors and occupiers, secured a five-year, fixed-rate loan from The Washington Trust Co. on behalf of SIG.


Source: https://www.insideselfstorage.com/acquisitionsbuying/self-storage-real-estate-acquisitions-and-sales-july-2021