Press Release brought to you by HFF

HFF closes $35 million sale of and secures $25.25 million financing for 5-property self storage portfolio in Harrisburg, Pennsylvania


PHILADELPHIA, PA – April 20, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $35 million sale of and secured $25.25 million in acquisition financing for a five-property, Storage Depot-branded, self-storage portfolio totaling 310,257 rentable square feet in Harrisburg, Pennsylvania.

HFF marketed the portfolio on behalf of the seller, PFG Capital, LP.  Self Storage Capital Partners purchased the assets.  Additionally, working on behalf of the new owner, HFF placed the 10-year, fixed-rate, 75-percent LTV acquisition loan with a CMBS lender.

The Storage Depot portfolio comprises properties at 6325 Allentown Boulevard, 32 Milroy Road, 4401 North 6th Street, 350 South 7th Street and 115 Cumberland Parkway.  All the facilities are located within a 10-mile radius of the capitol building in Harrisburg.  The portfolio consists of 243 climate controlled units, 2,271 non-climate controlled units, 87 income-producing surface parking spaces and eight warehouse/commercial units totaling 14,054 square feet.  Additionally, there is an expansion area totaling 28,880 square feet.

The HFF team representing the seller was led by managing director Richard Schontz, director Barbara Guffey and associate director Matthew Weckesser.

The HFF debt placement team representing the borrower was led by managing director James Conley.

“This is the third transaction our team completed in the past 14 months for PFG Capital, totaling $70 million,” Schontz said.  “This portfolio is a great fit for Self Storage Capital Partners and is nearly doubling their holdings within the Mid-Atlantic Region.  In addition, James Conley played a major role in this transaction by placing debt for the buyer in very choppy CMBS Market on the same terms as presented at the time of application.”

About PFG Capital, LP
PFG Capital, LP is a partnership of individuals with decades of real estate, insurance, finance, accounting and entrepreneurial experience.  Its history of real estate and business investment, development, and syndication dates back over 20 years to the mid-1980s.  Learn more at

About Self Storage Capital Partners
Self Storage Capital Partners (SSCP) is a Philadelphia-based, privately-held real estate investment and management company focused on delivering superior returns to its investors.  Focused exclusively on Self-Storage properties, SSCP understands that its properties are as much an operating business as they are real estate assets.  SSCP collectively has over 20 years of experience in underwriting, acquiring, operating and repositioning self storage properties.  Visit for more information.

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit or follow HFF on Twitter @HFF.



Want more news about HFF? Click here