September 23, 2019
Shawnee Self-Storage Sold
Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the repayment of Atlantic Creek’s investment in Shawnee Self-Storage (“Shawnee”) on September 23, 2019. Atlantic Creek participated in the project through a preferred equity investment over a hold period of 18 months.
The property is located 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. Shawnee was the completed development of an 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.
Atlantic Creek has offices in New York, NY and Palm Beach, FL and 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.