JLL Capital Markets led the sales efforts for the 2,630-unit portfolio spread across the Midwest region
News release
28 May 2025
Four-property Midwest self-storage portfolio trades
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DALLAS - May 28, 2025 – JLL Capital Markets announced today that it has completed the sale of a four-property Midwest self-storage portfolio totaling more than 300,000 rentable square feet and over 2,600 units.
JLL’s Self Storage team represented the seller, Affordable Family Storage, and procured the buyer, Etude Capital. The properties are managed by CubeSmart and Extra Space.
All four properties are recently delivered conversion projects from big box retail spaces or former industrial warehouses. The properties offer highly functional layouts, institutional quality, Class A design and amenities and are 33% occupied overall. Each property within the portfolio is located in a densely populated, top performing trade area with great accessibility.
JLL’s Self Storage Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Brian Somoza and Steve Mellon and Directors Adam Roossien and Matthew Wheeler.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Affordable Family Storage
Founded in 2014 and headquartered in Iowa, Affordable Family Storage is a U.S. self-storage company with locations in 11 different states across the Midwest. Over the last 11 years, the company has built a strong reputation within the self-storage sector for its development and operational expertise.
About Etude Capital
Founded in 2012 and headquartered in Austin, Texas, Etude Capital has grown its self-storage-focused insurance and technology businesses to serve over 3,000 facilities nationwide. It owns 3.3 million rentable square feet of self-storage across eight states.