Nebraska’s Largest Storage Transaction

Challenge

Seller Matthew Ackerman of ASONP LLC aimed to divest one of the largest self-storage portfolios in Nebraska, featuring four properties with 208,083 net rentable square feet across 1,142 units. The deal entered escrow four separate times with various buyers, reflecting the complexity and scale of the transaction. Changing market dynamics and shifting buyer interest added further pressure to close a high-value deal in a niche market.

Strategy

Mason Gates, Senior Associate within Matthews Real Estate Investment Services™ Self-Storage Division, facilitated the transaction from start to finish. Gates navigated multiple rounds of negotiations and buyer transactions with persistence and strategic insight. The sale of the North Platte Storage Portfolio presented significant challenges over the course 925 days. Recognizing the need for a flexible approach, he worked with the buyer to structure a deal utilizing both conventional and seller financing—balancing the Seller’s goal of maximizing long-term returns with the buyer’s investment objectives. Ultimately, he secured HAN Capital LLC, a Chicago-based investment firm seeking to expand its self-storage presence across the Midwest.

Results

The $15.5 million sale closed successfully, with HAN Capital acquiring four properties in North Platte, NE, totaling more than 208,000 net rentable square feet. The transaction became the largest broker-facilitated self-storage sale in Nebraska by both price and square footage. Through determination and deal structuring expertise, Gates delivered a strong outcome for both parties, helping the seller exit a long-held portfolio while enabling the buyer to make a significant entry into the Nebraska market.

“Despite shifting buyer interest and challenges throughout the process, Matthews™ remained committed to securing the right outcome,” Gates said. “Our ability to navigate multiple rounds of negotiations and structure favorable financing ultimately resulted in a successful transaction for both the seller and the buyer.”