15-property self-storage portfolio sells for $98 million

HOUSTON, Mar. 25, 2026 –  JLL Capital Markets announced today that it has completed the $98 million sale of a 15-property self-storage portfolio located throughout the Southeastern United States.

JLL represented the seller, SROA Capital, in the sale of the portfolio to Washington Street Investment Partners LLC, owner and operator of the LocalStorage Group brand.

“As we continue to grow and scale our platform, this transaction marks an important milestone for SROA,” said Benjamin Macfarland, Founder & CEO of SROA Capital. “This portfolio was part of one of our earlier funds, and we’re proud to deliver strong returns to investors who have been with us for more than a decade. It reflects the quality of the assets as well as our disciplined approach to building long‑term value.”

The portfolio totals approximately 832,000 rentable square feet and 6,600 units spread across seven properties in Kentucky, seven properties in South Carolina and one property in Florida. All the assets have been institutionally maintained and are 90% occupied overall. 

JLL’s Capital Markets Self-Storage team representing the seller was led by Managing Director Griffin Guthneck, Senior Managing Directors Brian Somoza and Steve Mellon and Directors Adam Roossien and Matthew Wheeler.

“This transaction provided an opportunity for LocalStorage to continue their strategic expansion strategy and immediately become a market leader with dominant scale across multiple submarkets in the Southeastern U.S.,” said Guthneck. “This portfolio is positioned for continued success given the growing populations of these submarkets and the limited competition in each.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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 WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

SROA Capital is a vertically integrated private equity real estate platform that has an established track record of providing risk adjusted returns to its partners through its focused strategy of investing in self-storage on behalf of its principals and partners. SROA is headquartered in West Palm Beach, FL and has invested equity, acquired, redeveloped, and developed self-storage across the risk spectrum in major and secondary markets across the United States under the brand Storage Rentals of America.

Washington Street Investment Partners is a vertically integrated real estate investment firm and storage operator under the LocalStorage Group brand. The firm specializes in acquiring, developing and operating self-storage assets with a primary focus on secondary and tertiary markets across the United States. To learn more, please visit: www.thelocalstoragegroup.com.