Updated Oct 29, 2024
TPG Real Estate Partners Acquires Self Storage Asset In Weston For $18.5M
2400 Glades Circle, Weston, Florida 33327, United States
$18,500,000
$196,808/SF
Building Size
94 SF
Asset Type
Self Storage
Closing
May 12, 2022
About this deal
AI
The self-storage property located at 2400 Glades Circle in Weston has been sold in a closed transaction. The property spans approximately 1.6 acres and is known as Value Store It.
Summary of transaction details
- Property Type: Self Storage
- Sale Price: $18,500,000
- Number of Units: 745
- Price per Unit: $24,832
- Square Footage: 94,000
- Price per Square Foot: $197
- Address: 2400 Glades Circle, Weston
- Market: Weston
The buyer of the property is TPG Real Estate Partners, represented by Jon Winkelried, David Bonderman, and Jim Coulter, along with Carlos Diaz from Value Store It. The seller of the property includes Harrison Street Real Estate Capital and The Lock Up.
Players
Weston 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93