Update 9/4/13 – SSG Summerville II LLC, a subsidiary of investment-management company Global Income Fund, purchased a second self-storage facility in Summerville, S.C., last month. The company purchased the property at 900 N. Gum St. from Mini Warehouses of Summerville LLC for $1.3 million. The facility comprises 36,600 square feet and 236 units on 2.5 acres. It offers both traditional and portable-storage units as well as boat/RV outdoor storage.
The other property previously reported is on Old Trolley Road and was purchased from Pack Rat Self Storage for an undisclosed amount, according to the source.
8/2/13 – A subsidiary of the investment-management company Global Income Fund has acquired a self-storage facility in Summerville, S.C.. The property comprises 72,800 square feet and 559 storage units on 5.04 acres. The location is on a four-lane highway and offers climate-controlled units.
“We are very pleased to add another quality facility to the expanding Global Self Storage portfolio,” said Mark Winmill, president and CEO of Global Income Fund.
The company has been actively making acquisitions this year and indicated it will continue to seek self-storage investment opportunities. Last month, subsidiaries of the company acquired two self-storage facilities in Illinois and one in Indiana. Earlier this year, its Self Storage Group I LLC subsidiary purchased Sadsbury Self Storage in Sadsburyville, Pa.
Global Income Fund is a non-diversified, closed-end, investment-management firm whose common stock is traded over the counter under the ticker symbol "GIFD." The primary investment objective of the company has been to provide a high level of income, with capital appreciation as a secondary objective.