Matthews Real Estate Investment Services™ closed the sale of the North Platte Storage Portfolio in Platte, Nebraska.
The portfolio, featuring four properties, is located at 3109 S. Willow St., 2020 E. Philip Ave., 2505 West Rodeo Road Ave. and 214 N. Lakeview Road in North Platte. Associate Mason Gates, within the Matthews™ Self-Storage Division, facilitated the $15.5 million transaction.
The portfolio features 208,083 net rentable square feet and 1,142 units. The seller, Matthew Ackerman of ASONP LLC, sought to divest after years of building one of the largest self-storage footprints in Nebraska. This marked the largest broker-facilitated self-storage transaction in the state by price and square footage.
The buyer, HAN Capital LLC, a property investment company based in Chicago, was motivated to expand its self-storage footprint across Nebraska and the broader Midwest. This acquisition provided them with over 208,000 net rentable square feet in one transaction, enabling them to increase their presence in the Nebraska self-storage market significantly.
The process, which lasted 925 days, involved entering escrow on four separate occasions with various buyers. The deal was ultimately structured with a favorable blend of conventional and seller financing, enhancing the seller’s long-term returns.
