Apr
21
Marcus & Millichap Facilitates Sale of Three-Property Portfolio in Birmingham
ByIn an $18.5 million deal, Alacare sold two self-storage facilities and an office building to Simply Self Storage and South Hall.
Locally based Alacare sold the facilities for a combined $18.5 million. Two of the assets were sold to Simply Self Storage of Orlando, Fla., while the office property was purchased by South Hall of Irondale, Ala.
“The Southeast continues to be one of the country’s most robust markets for self-storage investment properties,”Michael Mele, a senior director of Marcus & Millichap’s National Self Storage Group, said in prepared remarks. “These stabilized assets can provide the new owners with substantial returns and upside through increased economic occupancy.”…
Marcus & Millichap Facilitates Sale of Three-Property Portfolio in Birmingham
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