A New York real estate investment firm has purchased a newly built self-storage facility in Grafton for nearly $3.9 million.
Merit Hill Capital closed on the sale of the CubeSmart Self Storage facility at 100 Milford Road on Monday, according to Worcester District Registry of Deeds records.
The five-acre property was sold by Hilltop Self Storage of Grafton LLC, a business entity registered to Rocco Addeo of Grafton. According to town filings, the project was built in phases beginning in 2015 with five original buildings first operational in 2016.
Construction on more storage units began late last year, according to the town’s planning records.
According to its website, Merit Hill Capital specializes in investing in self storage facility across the U.S.
The property was sold for nearly triple the 2019 assessed value of $1.4 million.Â
