News

March 15, 2018
Shawnee Self-Storage Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the Preferred Equity investment into a joint venture with an experienced self-storage developer that is developing a self-storage facility (“Shawnee Self-Storage” or the “Development”) at 5321 Shawnee Road in Alexandria, Fairfax County, Virginia in the Washington, D.C. MSA. Alexandria is approximately seven miles south of downtown Washington, D.C. and is the highest-income city in Virginia at the time of acquisition.

The investment closed on March 15, 2018. The proposed Development is of a 815-unit, 81,990 net rentable sf, four-story (three above-grade, one below-grade), Class A self-storage facility on an approximate 3.65-acre site. Shawnee Self-Storage is already under contract to be sold to a joint-venture affiliated with a national self-storage chain upon completion of construction and issuance of the Certificate of Occupancy.

Atlantic Creek, with offices in New York, NY and Palm Beach, FL, targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate primarily located on the East and West Coasts of the U.S., Texas and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Joshua Schwalbe, Senior Vice President, in our New York, NY office at (212) 381-7617 or Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.