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Trez Capital and Hines recently acquired a four-building 235,400-square-foot self-storage facility, at double the size of most storage facilities and representing the first self-storage property for the partnership.
The parcel, also known as the western portion of Block A, encompasses approximately 2.18 acres, with base development capacity of nearly 1,100 residential units and 1.7 million square feet.
In the arrangement, SL Green will maintain a majority share in the building in the 50/50 joint-venture, leaving the stake range between 45 percent and 49 percent.