This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

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 /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.

(Logo:  http://photos.prnewswire.com/prnh/20121115/NY14588LOGO )

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 assets.

"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."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs