Wentworth Property Co., in a joint venture with an institutional equity investor, has sold an 18-property self-storage portfolio in the Western United States and Texas for an estimated sales price of $266.2 million.
The new owner was not disclosed. However, the buyer is reported to be Related Cos.
The portfolio includes 9,600 storage units and 1.3 million square feet of rentable space. Six properties are in the greater Phoenix area; four facilities are in the Dallas/Fort Worth area; two assets are in El Paso, Texas; three properties are in Salt Lake City; two properties are in Denver; and one asset is in Boise, Idaho.