Atlanta, August, 31, 2009: NitNeil Partners LLC is pleased to announce the acquisition of Locks Inn Mini Storage in Roswell, Georgia for $3,600,000.  The property consists of 51,000 square feet of self-storage, secure RV and Boat Parking, and 1,500 square feet of neighborhood retail space.  The property is well situated in the Crabapple sub market within the city of Roswell, but is in close proximity to both the Alpharetta and Milton jurisdictions.  Nancy Miller from Bull Realty brokered the transaction and debt financing was provided by Branch Banking & Trust Company (BB&T).

Despite the challenges facing the commercial real estate sector, NitNeil Partners has been actively acquiring self-storage properties. “Our philosophy has not changed; equity in real estate is derived from recurring cash flow, asset appreciation and principal pay down.  We will continue to acquire properties in high growth submarkets using conservative financial leverage” says partner, Neil Sapra.

The Locks Inn transaction represents the seventh acquisition for the Company in 2008 and 2009.  The Company owns and operates approximately 600,000 SF of self-storage space in Alabama and Georgia, which is managed under its operating subsidiary, The Storage Neighbor (www.storageneighbor.com).

For additional information on NitNeil Partners please contact Neil K. Sapra at neil@nitneilpartners.com.

NitNeil Partners LLC
1447 Peachtree Street Suite 470
Atlanta, GA 30309
678-701-9305