The William Warren Group has added nine self-storage facilities to its Self Storage Income Fund in a $110.9 million transaction, growing the fund from eight to 17 assets with a gross asset value of $196 million. The acquired properties are located in Arizona, California, Hawaii, and Nevada, adding 410,000 rentable square feet. Around 80% of prior investor equity rolled into the fund through a Section 721 exchange. Wells Fargo provided a $200 million loan.
The fund now holds more than 845,000 rentable square feet and 9,100 units across six states.
Source: ISS – Inside Self Storage
