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Simi Capital Group JV buys NYC industrial property for $19m
Transactions - OCTOBER 28, 2021

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Simi Capital Group JV buys NYC industrial property for $19m

by Released

Simi Capital Group (SCG) has announced the $19 million acquisition of an industrial property located in the New York City borough of Staten Island, in partnership with Cerberus Capital Management and Stonemont Financial.

The newly acquired property occupies a six-acre site, located at 2577 Forest Ave., in Staten Island, and the new owners plan to convert it from self-storage space into an outdoor storage facility optimally situated only a mile from Goethals Bridge, a critical crossing between Staten Island and New Jersey. Upon its completion, the property will service the booming industrial market in the greater New York City metropolitan area. This acquisition is Simi Capital’s fourth this month, having closed on three additional properties in Miami and Columbus, Ohio.

“Having specialized in niche industrial logistics transactions in several major metropolitan areas throughout the country, we are confident that this property will be an asset to our growing indus

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