The William Warren Group (WWG), a privately held real estate company that operates the StorQuest Self Storage brand, has acquired a 15-property portfolio in the western states for $64 million. The portfolio comprises 861,367 rentable square feet of storage space and 6,800 units. It includes facilities in Arizona, California, Colorado and Texas, all of which will be rebranded under the StorQuest name.
In the transaction, Marc Boorstein and Jeff Jacobson of MJ Partners Self Storage Group, in conjunction with Watson Self Storage, represented the buyer and the seller, a family company based in Woodland Hills, Calif. The three-phase closing accommodated a like-kind property exchange under the Internal Revenue Code section 1031 tax-deferred exchange.
Headquartered in Chicago, MJ Partners is a full-service real estate brokerage and investment banking company specializing in commercial real estate, mortgage banking and consulting services. The company's clients include major financial institutions, private equity funds, REITs, opportunity funds, insurance companies, pension-fund advisors, corporations, private developers and entrepreneurial businesses.
Founded in 1994 and based in Santa Monica, Calif., WWG is a privately held real estate company that develops, acquires and operates self-storage facilities in Arizona, California, Colorado, Florida, Hawaii, South Carolina and Texas. It operates more than 100 self-storage properties.