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Chicago investment firm buys two area CubeSmart locations
Chicago investment firm buys two area CubeSmart locations
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The Chicago-based real estate investment management firm behind what quite likely was the largest single property transaction in Rochester history has added to its Monroe County portfolio.
Harrison Street Real Estate, through two affiliated LLCs, spent a combined $23,297,500 for CubeSmart self storage facilities in Irondequoit and Henrietta. The businesses were previously owned by a Seattle-based real estate firm.
Columbia Pacific Advisors, LLC, through individual LLCs, sold the CubeSmart at 1771 Brighton-Henrietta Town Line Rd. for $15,002,500 to HS Henrietta, LCC, and the CubeSmart at 2111 Hudson Ave. in Irondequoit for $8,295,000 to HS Irondequoit, LLC.
The transactions were filed with the Monroe County Clerk’s office on Wednesday.
This week’s investments by Harrison Street were tame compared to its deal that was completed in January. Harrison Street, through its affiliate APEX Property owner LLC, spent $161.5 million to acquire 98 percent ownership in the APEX student housing community near Rochester Institute of Technology.
That seller, The Michaels Organization of Camden, N.J., maintained the 2 percent ownership share. The Michaels Organization was the developer of APEX and Christa Construction was the builder.
Harrison Street specializes in investment in senior and student housing, healthcare delivery and storage real estate.
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