Albany and Moultrie, GA · Self-storage
South Georgia Storage Portfolio
All-cash close. Capital gains and recapture fully deferred.
The deal at a glance
- Units
- 2,243
- Net rentable sq ft
- 312,950
- Offers
- Multiple competitive offers from institutional and private investors
- State
- Georgia
- Buyer profile
- Institutional and private equity interest; transaction closed all-cash
The asset. Self-storage, 2-property portfolio, institutional-quality construction across 16 phases of development.
The transaction
What actually happened.
Oakside sold a two-property, 312,950 NRSF, 2,243-unit South Georgia portfolio anchored by one of Georgia's five largest single-site self-storage facilities. The sellers took an all-cash closing and deferred 100 percent of capital gains and recapture through Oakside's tax deferral relationship network.
- 01
The challenge
A difficult investment environment for large single-site assets in secondary South Georgia markets, with mark-to-market upside on the Albany asset that a buyer had to underwrite for itself.
- 02
What Oakside did
Oakside presented the portfolio on quality, market position and long-term fundamentals to draw institutional and private equity interest, then designed the transaction around the seller's net proceeds rather than the headline price.
- 03
The outcome
Multiple competitive offers and an all-cash close.
In their words
Opportunities to acquire immediate scale through a portfolio anchored by one of Georgia's largest dedicated self-storage facilities are exceptionally rare. Despite a challenging investment environment, we generated multiple competitive offers from institutional and private investors by highlighting the portfolio's exceptional quality, market position, and long-term fundamentals. We were especially pleased to help design a transaction that maximized the seller's overall net proceeds while still delivering an all-cash closing. Both the buyer and seller were outstanding to work with, and their professionalism made for an efficient and successful transaction.
Eric Jones, Senior Vice President of Oakside The tax outcome
100 percent of capital gains and recapture deferred.
The sellers deferred 100 percent of capital gains and recapture through Oakside's tax deferral relationship network.
We're not a registered investment advisor. We don't provide investment advice, but we can help educate sellers on some of their options that they might not know about.
The sellers
Roughly a hundred brokers called. They said no every time.
Scott and Duncan, who built and sold two self-storage facilities in South Georgia.
In their words
We didn't have a plan for what we were going to do with the money, and that's what stopped us cold in our tracks.
Scott Sold two self-storage facilities in South Georgia Scott and Duncan built two self-storage facilities in South Georgia over about twenty years. Roughly a hundred brokers called them. They said no every time, and price was never the reason. They had no plan for the proceeds and no appetite for a perpetual 1031 loop.
One other firm had raised a 721 structure with them, as an idea. Oakside assembled the team instead, and put every party in front of Scott and Duncan to answer questions before they committed to anything.
The portfolio drew multiple competitive offers and closed all cash. Oakside is not compensated for the introductions it makes to the institutions that execute these structures.
In their words
Only one other brokerage outfit mentioned the 721 process, but it was really in the concept of contributing properties directly to a firm that offers the 721 exchange.
Scott It's one thing to say, hey, this company offers a DST into 721 process. It's another thing to put all the team together, let us speak to them in advance, get comfortable with it, so that we weren't out trying to build that ourselves.
Scott It's exactly like you laid out that it would be.
Scott If it weren't for the continuum of value that Oakside offered, with respect to not only optimizing the sale but optimizing also the asset to which the resources go, we might not have sold at all.
Duncan Related transactions
More of the record.
Pre-Sale Strategy Session
Want this outcome for your facility?
A confidential call with Oakside's founders. We narrow the seven deferral structures beyond the 1031 to the two or three that fit your facility, and run the number you actually need after closing.