Northpath Investments Expands its Self-Storage Portfolio in the Northeast
Northpath Investments has expanded its self-storage portfolio with the
acquisitions of Fort Locks Self-Storage in Ithaca, NY and Admiral Self-Storage in South
Windsor, CT.
Fort Locks Self-Storage, a 27,808 self-storage facility, includes a mobile home park,
known as Bailey Park, on the premises. The property was purchased from a local
owner-operator in 2020 for $4.3M and later financed in January 2021. Northpath
Investments was able to secure favorable financing terms from Lakeland Bank.
Admiral Self-Storage, a 144,250 square foot self-storage facility, was acquired by
Northpath Investments in October 2020 from local moving & self-storage operator
Admiral Self-Storage for $7.1M. The purchase was financed with favorable terms by
local lender Florence Bank, facilitated by Michael Klein of JLL.
Northpath Investments has installed an experienced self-storage operator on the
premises of both properties which will raise the standard of operations to an institutional
level.
Northpath Investments seeks to acquire retail, industrial, and office properties in primary
and secondary markets with the potential for significant increase in cash flow and
residual value through lease up, expansion, renovation and redevelopment. Northpath
Investments focuses on markets within the Northeast and Mid-Atlantic, targeting areas
with attractive population density and income levels. Northpath Investments sources
favorable financing terms to generate superior risk-adjusted returns. Please feel free to
contact us if you would like to submit a property you think would fit our criteria here: