UTEX Storage Partners Acquires Self Storage Portfolio From Brookwood Properties In San Antonio And Austin
Building Size
235,525 SF
Asset Type
Self Storage
Closing
Oct 14, 2024
AI
The transaction involved a self-storage portfolio consisting of two facilities located in Central Texas, specifically in the San Antonio and Austin markets. The portfolio includes a total of 2,473 units, offering 235,525 square feet of space, predominantly climate-controlled. The facility in San Antonio has 940 units covering 88,325 square feet, while the Austin facility features 1,533 units within 147,200 square feet.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not specified
- Units: 2,473
- Square Footage: 235,525
- Address: Self Storage Portfolio
- Market: San Antonio & Austin
- Buyer: UTEX Storage Partners
- Seller: Brookwood Properties
- Broker: Jon Danklefs - Marcus & Millichap
Jon Danklefs of Marcus & Millichap represented the transaction, facilitating the sale of the properties developed by Brookwood Properties. This transaction highlights the ongoing activity within the self-storage market in the Central Texas region.
Players
Market 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93