JLL Capital Markets has arranged the sale and acquisition financing for Jefferson Valley Self Storage, a recently delivered self-storage facility in Jefferson Valley, NY. The firm’s Self-Storage Capital Markets team marketed the property on behalf of the seller, Columbia Pacific Advisors, and oversaw a competitive process that led to an agreement with Horizon Storage Group as the buyer. Acquisition financing for the purchase was provided by Andover Lending, a joint venture between Andover Properties and TPG Angelo Gordon. Financial terms of the transaction were not disclosed.
Jefferson Valley Self Storage totals 405 units and offers 55,311 rentable square feet of Class A storage space. The property was completed in 2022 as a conversion of a former big-box retail building and underwent a full rehabilitation prior to opening. At the time of the sale, the facility was reported to be 87% leased, reflecting substantial lease-up progress only a few years after completion. The asset’s scale and occupancy profile position it as an institutional-quality self-storage property within its trade area.
The facility is situated on a 3.6-acre parcel at 621 Bank Rd. in Westchester County. The location is surrounded by an established and affluent residential base, with more than 81,000 residents living within a five-mile radius and average household income of $189,722. This demographic backdrop supports ongoing demand for modern, climate-controlled self-storage and provides a deep customer pool for future leasing. The combination of strong local incomes and a sizable population concentration underpins the investment thesis for both the seller and the new owner.
JLL’s role in both marketing the asset and facilitating the financing underscores the integration of capital markets and debt advisory services for self-storage trades. The involvement of Andover Lending, formed as a joint venture between Andover Properties and TPG Angelo Gordon, highlights the presence of specialized capital providers targeting stabilized and near-stabilized storage facilities. While pricing and loan terms were not released, the transaction reflects continued lender and investor engagement for Class A self-storage assets created through adaptive reuse of former retail properties.
