Athena Real Estate Acquires Florida Self-Storage Facilities

Danbury, Connecticut, UNITED STATES

DANBURY, Conn., Nov. 05, 2015 (GLOBE NEWSWIRE) -- Athena Real Estate through affiliates recently acquired two self-storage facilities in Florida.  Palm Bay Self Storage is a 27,300 square foot property located in Palm Bay, Florida. Palm Bay is located South of Melbourne in Brevard County. Easy–Stor Self-Storage is a 52,250 square foot property located in Dade City, Florida. Easy-Stor is located Northeast of Tampa in Pasco County. The properties are to be re-named Out O’ Space Storage, similarly branded as the four other Athena affiliate self-storage facilities. In addition to household and commercial storage, there are outside areas dedicated to parking of vehicles including RV’s.

Richard J. O'Brien, Chief Executive Officer and Founder of Athena Real Estate, said, "We are pleased to acquire these two properties, which are value-added opportunities with upside in occupancy. We are confident in our ability to improve the current occupancy at both locations through revenue enhancing capital and increased marketing efforts.”

O’Brien added, “We continue to grow through acquisitions in Florida and are interested in growing our platform across the East Coast of the United States. We now own six self-storage facilities, and are striving to build greater scale. We are seeking to acquire self-storage facilities of 40,000 to 80,000 square feet in strong locations with a mix of climate and non-climate controlled spaces.”

About Athena Real Estate

Athena Real Estate, LLC is a real estate investment and advisory firm focused on specialty collateral types, including self-storage facilities, RV parks, and manufactured housing communities. Athena currently operates 16 East coast commercial properties including 14 Florida properties. Located in Danbury, CT, the company's operating philosophy is to obtain premium returns by acquiring niche property types where focused management can provide a competitive advantage. Athena was founded in 2004 by Richard J. O'Brien, who is a former executive of a mid-cap public REIT and a large real estate financial services and investment company.

Athena is located at 98 Mill Plain Road, Suite 3C, Danbury, CT 06811.


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