Updated Oct 29, 2024
Boundary Cos. Acquires Self Storage Property In Hallandale Beach For $23M
450 Ansin Boulevard
$23,000,000
$168/SF
Building Size
136,591 SF
Asset Type
Self Storage
Closing
Feb 15, 2022
About this deal
AI
The recently closed property transaction in Hallandale Beach involved the sale of a self-storage facility located at 450 Ansin Blvd. The property spans across 8.4 acres and is owned by City Line Capital, represented by Richard Schontz. The buyer, Boundary Cos., acquired the asset for a total sale price of $23,000,000. The property comprises 136,591 square feet, resulting in a price per square foot of $168. The transaction took place on February 15, 2022.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $23,000,000
- Address: 450 Ansin Blvd
- Market: Hallandale Beach
- Acres: 8.4
Boundary Cos. acted as the buyer in this transaction, while City Line Capital, represented by Richard Schontz, served as the seller. Seacost National Bank provided the financing for the deal. The involvement of these individuals and companies highlights the key players in the successful closure of this sale.
On the Map
$23,000,000
$168/SF
Self Storage
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Players
Hallandale Beach 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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93