Strategic Capital Holdings LLC acquired a four-property portfolio of self-storage facilities in the Chicago area for $13.5 million from JP Morgan Asset Management.
The portfolio consists of approximately 321,000 square feet of rentable storage space and 2,285 storage units. Two of the self-storage properties are in Chicago at 1000 E. 95th St. and 2244 S. Western Ave.; and two are in Cicero, Ill., at 5701 W. Ogden Ave. and 5525 W. Roosevelt Road. The properties were previously managed by Metro Self Storage. They will be branded SmartStop Self Storage.
MJ Partners Real Estate Services principals Marc Boorstein and Jeff Jacobson represented both parties in the transaction.
Based in Ladera Ranch, Calif., Strategic Capital Holdings LLC is a public non-traded real estate investment trust specializing in self-storage. The company manages more than 50 self-storage facilities in 16 states.