Joint venture delivered market-leading facility in late 2020
835-unit climate-controlled facility is located at 90 Oak Street, Roswell, GA
Atlanta, Georgia (February 14, 2022) — Coro Realty and DG Real Estate Partners have sold a Roswell, Georgia, self-storage facility the joint-venture partners delivered in late 2020 to funds managed by global investment firm KKR.
Luke Elliott and Michael Mele with Cushman & Wakefield represented the sellers.
DG Real Estate purchased the site in 2017. Coro Realty joined in 2019 to facilitate the construction.
The 835-unit climate-controlled facility is located at 90 Oak Street. It was Coro Realty’s fourth and DG Real Estate’s third self-storage development. The partners matched the historic feel of downtown Roswell by designing the building to look like a converted brick warehouse.
“Coro Realty is proud of our partnership with DG Real Estate and our self-storage development on Oak Street,” said Robert Fransen, President and Managing Partner, Coro Realty. “It is a well-located, good-looking building with tremendous upside. We congratulate KKR on the acquisition.”
The Roswell facility is a Class A purpose-built self-storage facility with 96,187 rentable square feet on 1.5 acres. It is near Roswell’s city center, across the street from the police department and a block from Roswell City Hall. The central location and the proximity to local law enforcement provide a sense of security to customers using the location.
The three-mile trade area has a population of 76,830 and a median income of $88,789. There are also thousands of homes within the immediate trade.
Coro Realty and DG Real Estate will redeploy the proceeds into other investments and development that will enable them to continue their opportunistic acquisition and development strategies.
About Coro Realty
Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demonstrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of $1 billion. For more information, visit cororealty.com.
About DG Real Estate Partners
DG Real Estate Partners, LLC was formed in early 2018. The entity was created to merge Galbraith Enterprises, Inc. and Dahlco Real Estate Development. DG Real Estate Partners’ principals are Matt Dahlhauser and Stephen Galbraith. DG Real Estate Partners currently has close to $100 million of projects in various stages of development.
Media contact: Thornton Kennedy (404) 210-0363 thornton@prsouth.net