crefeed.com | Acadia Realty pays $175M for self-storage portfolio in NY, NJ

3/5/2008

Acadia Realty pays $175M for self-storage portfolio in NY, NJ

American Storage Properties portfolio

White Plains, N.Y.-based Acadia Realty Trust has purchased a portfolio of 11 self-storage properties in New York and New Jersey for $175 million from American Storage Properties North, LLC.

Gerry Trainor of Transwestern and Steve Hryszko of CB Richard Ellis represented American Storage.

The portfolio consists of six new facilities, four converted warehouse facilities and one property still under construction. It was 72 percent leased at the time of sale and contains a total of 933,000 square feet.

Hryszko is a VP with the Cleveland office of CB Richard Ellis and currently heads the firm's Self-Storage Advisory Group. Prior to joining CBRE, he held the post of vice president of acquisitions for U-Store-It. He's also worked in corporate real estate for Amsdell Companies and Lesco, Inc.

Size: 933,000 square feet

Filed Under: Self-Storage

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