Affiliate companies of Los Angeles-based investment-management firm Oaktree Capital Management LP have acquired two self-storage properties in the Memphis, Tenn., area for $4.9 million.
SSSP Kirby Raines LLC purchased Kirby Raines Self Storage at 6504 E. Raines Road from TSRE III Kirby Raines LLC for $2.5 million, according to a December warranty deed. The 50,910-square-foot storage facility was built in 1995. The Shelby County Assessor’s 2014 appraisal of the property was $1.3 million, according to the source.
SSSP Collierville LLC purchased Collierville Mini Storage at 314 S. Mt. Pleasant Road in Collierville, Tenn., from VSI III Collierville Self Storage LLC for $2.4 million, according to the source. The property comprises 53,110 square feet. The county assessor appraised the property at $1.6 million.
Formed in 1995, Oaktree Capital is a global investment firm focused on alternative markets.
- The Daily News: Two Storage Facilities Sell for $4.9 Million