Mj Partners sells interest in Elmhurst Self Storage
MJ Partners Self Storage Group of Chicago sold a 50 percent interest in the newly built Elmhurst Self Storage in Elmhurst , Ill. The transaction values the facility at $8.2 million, or about $100 per square foot, through an investment by a local private family that is new to the self-storage industry.
Self-storage real estate investment trust CubeSmart has formed a joint venture with an affiliate of Harrison Street Real Estate Capital LLC. The newly formed business consists of nine self-storage facilities valued at $90 million.