Updated Dec 4, 2024
Buchanan Street Partners Acquires Auburn Self Storage Facility For $20.75M
12200 Rock Creek Road
$20,750,000
$178/SF
Building Size
116,500 SF
Asset Type
Self Storage
Closing
Oct 27, 2023
About this deal
AI
Buchanan Street Partners, LP, a real estate investment management firm, has entered Northern California's market by acquiring a 116,500-square-foot self-storage facility in Auburn for $20.75 million. The facility, located at 12200 Rock Creek Road, features 825 self-storage units and 40 RV parking spaces. The sale price of $20.75 million corresponds to a price per square foot of $178.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $20,750,000
- Address: 12200 Rock Creek Road
- Market: Auburn
- Buyer: Buchanan Street Partners
Feerooz Yacoobi, representing Buchanan Street Partners, facilitated the acquisition of the self-storage facility in Auburn. The property will be managed by Westport Properties, Inc., and offers potential for future expansion with two acres of vacant land.
Players
Auburn Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93