JLL Capital Markets led the sales efforts on behalf of Gelt Venture Partners for the portfolio, which totals more than 3,500 storage units
JLL Capital Markets announced today that it has completed the sale of an eight-property self-storage portfolio, totaling more than 3,500 storage units and 485,000 rentable square feet, and is located in the greater Memphis, Tennessee area.
JLL’s Self Storage Capital Markets team represented the seller, Gelt Ventures, in the sale of the portfolio to Mini Mall Storage Properties.
The portfolio consists of over 485,000 square feet of institutional-quality self-storage space. All of the facilities are located in the Memphis MSA, with three in Memphis proper, two in the suburbs and three in suburban Mississippi. The Memphis area has seen significant population growth in the suburbs and the immediate area surrounding the properties is home to an average of more than 47,500 residents within a three-mile radius.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About Gelt Ventures
Gelt Ventures is a Los Angeles-based real estate investment firm with the intent to acquire, manage, and re-position apartment buildings and self-storage facilities. To learn more, please visit: geltventurepartners.com.
About Mini Mall Storage Properties
Mini Mall Storage Properties is a leading self-storage owner/operator with over 9 million square feet of space across 225+ locations in Canada and the United States. The company is focused on acquiring established assets and applying institutional-grade operational strategies to elevate service standards and enhance efficiency. With a proprietary hub-and-spoke operating model, Mini Mall is unique in the industry and can enter new regions efficiently while consolidating a largely fragmented market. For more information, please visit: minimallstorage.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Contact:
Kristen Murphy
JLL Director, Public Relations
Phone: +1 617 543 4873
Email: kristen.murphy@jll.com
Source: JLL
