Matthews Negotiates Sale of 513-Unit Self-Storage Facility in State College, Pennsylvania
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. Nashville continues to absorb meaningful multifamily and mixed-use development. Hospitality has been a standout performer through the cycle. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
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On the RET wire
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STATE COLLEGE, PA. — Nashville-based brokerage firm Matthews has negotiated the sale of a 513-unit self-storage facility in State College, home of Penn State University, and the facility is located about four miles fr…
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