TKG-Storagemart Partners LP, which operates more than 250 self-storage properties across Canada, the United Kingdom and the United States under the StorageMart brand, acquired 10 facilities in Wisconsin for $125 million. The seller was Storage Masters LLC, which operates six facilities in Illinois and Missouri. Together, the properties comprise 712,899 net rentable square feet in 5,664 units.
StorageMart now operates facilities in Caledonia, Cudahy, Franklin, Milwaukee, Muskego, New Berlin and Waukesha, Wis. Altogether, they have assessed values of roughly $25 million, according to the source.
Founded in 1999 and based in Columbia, Mo., StorageMart is privately owned and operated by the Burnam Family. Its portfolio consists of more than 15 million square feet of storage.
Biz Times, New Berlin Acquisition Puts Self-Storage Portfolio Deal up to $125 Million