The Beatty Standley Team of Marcus & Millichap Arranges the Purchase of MJP Self Storage in Loveland, Colorado

Loveland, Colorado, June 25, 2019 – The Beatty Standley Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the purchase of MJP Self Storage, a 25,375 square foot self-storage facility located in Loveland, Colorado.

The Buyers, private investors, were represented by Boomer Beatty and Peter Standley, senior associates in Marcus & Millichap’s Denver, Colorado office. “The Buyers, Denver metro multifamily owners, were looking to take advantage of compressed multifamily CAP rates and trade into an asset with increased cash flow and decreased management,” Beatty said. “This opportunity fulfilled all of the Buyers’ requests while they were searching for a trade.”  

The property, sold by a local private investor, was exclusively listed on behalf of the seller by Conor Reagan, Investment Associate, and Adam Schlosser, Senior Vice President Investments, and the financing was arranged by Phil Gause, all based out of Marcus & Millichap’s Denver office.

“This asset was very well maintained, had upside in rents, and was in a great location between Loveland and Estes Park, creating the perfect opportunity as the Buyers transitioned from the multifamily space,” Beatty added.

MJP Self Storage consists of 142 non climate-controlled units of which 125 are drive up and 17 are accessible from interior hallways.The facility was built in 2014 and features four single story buildings that are of metal construction. MJP Self Storage features a 24-hour self-service kiosk, keypad-controlled gate access and 24-hour video surveillance. The facility sits on Highway 34, a main thoroughfare running from I-25 to Estes Park with traffic counts exceeding 12,284 per day.