TSRE III Buys Two Memphis, Tenn., Self-Storage Facilities for $2.9M

Northwest and Southern Self Storage Partnership sold two Memphis, Tenn., self-storage facilities for $2.9 million.

Gulfport, Miss.-based TSRE III Northwest LLC purchased the facility at 3891 Thomas St. for $1.5 million. The purchase was financed with a $1.1 million loan through Virtus Storage Investment III LP. The partnership also sold its facility at 4740 Getwell Road to TSRE III Southern LLC for $1.4 million. It was financed through Virtus for $1 million.

Built in 1995, the Thomas Street facility is on 3.5 acres in the Northside Commercial subdivision. The facility on Getwell Road was built in 1998 and sits on 4 acres.

Source:  The Daily News,  Mississippi Co. Buys Two Self-Storage Facilities

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