A Florida self-storage investment firm has paid more than $15 million for two storage properties in Northborough and another in Uxbridge.
The buyer, SROA Capital, bought 241 Southwest Cutoff and 160 Otis St. in Northborough and 35 Balm of Life Spring Road in Uxbridge. Both Northborough sites are branded as CubeSmart, and the Uxbridge one is a Storage Rentals of America site. All three sales closed Nov. 9.
SROA Capital bought the two Northborough properties for $9.2 million, slightly more than the $9 million the two sites sold for in 2017. The sites, which were last assessed by the Town of Northborough at $11.4 million, were bought from Storage Pros Management, a Michigan firm.
The Uxbridge site was bought from DLD Management of Illinois. The property last sold in 2016 for nearly $4.7 million, and was last assessed by the Town of Uxbridge at $3 million.
SROA’s portfolio includes 140 self-storage facilities totaling 7 million square feet.
