NGKF Capital Markets Represents Clarion Partners and Private Mini Storage in
$326.2 Million Sale of 36 Self Storage Properties in Texas and North Carolina
to Joint Venture Headed by CubeSmart
NEW YORK, Dec. 12, 2013
NEW YORK, Dec. 12, 2013 /PRNewswire/ -- NGKF Capital Markets has completed the
sale of 36 self storage properties for $326.2 million on behalf of its
clients, a partnership of Clarion Partners and Private Mini Storage and
Private Mini Storage individually.
The portfolio amounts to more than three million square feet and includes 28
properties in Houston, seven in Austin, Texas, and one in Charlotte, N.C. A
subsidiary of CubeSmart (NYSE: CUBE) and a joint venture partner purchased the
"This truly was one of the most unique portfolio opportunities in the self
storage space I've ever seen," said Aaron Swerdlin, executive managing
director with NGKF Capital Markets. "The geographic concentration in Austin
and Houston, two of the best economies in the country, really accentuated the
value of the high quality self storage portfolio that Clarion and Private Mini
had developed and assembled."
Mr. Swerdlin, who is based in Houston, together with Memphis, Tenn.-based
Kenneth Cox, heads NGKF Capital Markets' Self Storage Group. The two have
handled more than $5 billion in self storage transactions throughout their
careers. The group provides clients with a single-source solution for every
phase of a self storage transaction, from strategic planning, value
enhancement, pre-marketing consulting and operations analysis to dispositions,
debt placement, proprietary lending and equity assignments.
"We continue to enhance our platform so that we are equipped to most
effectively assist REITs, institutional investors and private investors who
have diverse needs, and are committed to helping them make intelligent
decisions about their real estate portfolios," said Jimmy Kuhn, NGKF President
and head of NGKF Capital Markets. "Investors are looking for yield and are
finding difficulty in the major food groups and in the traditional markets.
Self storage, medical office and other alternative asset classes are more in
demand in search of that yield.
"Aaron and Kenneth are recognized leaders in the self storage space. Their
knowledge and long-standing relationships are invaluable for investors
exploring the self storage asset class."
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world's leading commercial
real estate advisory firms. Together with its affiliates and London-based
partner Knight Frank, NGKF employs more than 12,000 professionals, operating
from more than 320 offices in established and emerging property markets on
With roots dating back to 1929, NGKF's strong foundation makes it one of the
most trusted names in commercial real estate. Its integrated services platform
includes leasing advisory, global corporate services, investment sales and
capital markets, consulting, program and project management, property and
facilities management, and valuation services. A major force in the real
estate marketplace, NGKF serves the local and global property requirements of
tenants, landlords, investors and developers worldwide. For further
information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global
brokerage company primarily servicing the wholesale financial and real estate
markets. For further information, visit www.bgcpartners.com.
SOURCE Newmark Grubb Knight Frank
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