HFF has closed the sale of the final property in a 22-property Storage Deluxe self-storage portfolio for $560 million. The portfolio was comprised of approximately 1.6 million sq. feet with assets located in New York, Pennsylvania and Connecticut.
HFF acted as the exclusive advisor to the seller, Storage Deluxe. CubeSmart was the purchaser. The conclusion of this transaction leaves Storage Deluxe, one of New York’s leading self-storage brands, with seven operating self-storage facilities in the boroughs of New York City and six additional facilities currently under construction.
The HFF investment sales team representing Storage Deluxe was led by HFF Senior Managing Director Aaron Swerdlin. The legal team representing Storage Deluxe was led by Louis Perfetto of the law firm Cohen & Perfetto.