Real estate firm Merit Hill Capital LP has acquired Randall Road Self Storage in North Aurora, Ill. The facility at 1051 Kettle was constructed in 2003 and expanded in 2008. The building comprises 76,696 rentable square feet in 640 units on 4.21 acres. It has visibility along Randall Road, a primary connector to the communities of Batavia, Geneva and St. Charles, according to the source.
The buyer and the seller, a limited liability company, were represented in the transaction by Sean M. Delaney and Michael A. Mele, investment specialists for real estate firm Marcus & Millichap.
Merit Hill also purchased two Houston-area StorIt! self-storage facilities last month from The Jenkins Organization, a self-storage developer, owner and management company. Combined, the properties offer 1,088 storage units.
Based in Brooklyn, N.Y., Merit Hill acquires, develops and manages self-storage facilities nationwide. Last year, it launched a $300 million fund with private capital to pursue single-property and small-portfolio acquisitions in markets with at least 25,000 residents and demonstrating population growth.
Founded in 1971, M&M is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout Canada and the United States.
Source:
Daily Herald, North Aurora Storage Facility Sold
