Merit Hill Capital Acquires Gladstell Self Storage In Conroe, TX From PV Conroe Storage LLC
810 Gladstell St, Conroe, TX, 77304
Building Size
66,575 SF
Asset Type
—
Closing
Nov 22, 2023
About this deal
AI
The Gladstell Self Storage property in Conroe, Texas has been acquired by New York-based investment firm Merit Hill Capital. The property, located at 810 Gladstell St, encompasses 66,575 square feet and includes 549 units along with 50 RV and boat storage spaces.
Summary of transaction details:
- Property Type: Self Storage Facility
- Transaction Amount: Not Disclosed
- Address: 810 Gladstell St, Conroe, TX, 77304
- Market: Conroe
- Seller's Rep: Nick Walker(CBRE), Trevor Roberts(CBRE)
- Buyer: Merit Hill Capital
- SF: 66,575
Nick Walker and Trevor Roberts of CBRE represented the seller, PV Conroe Storage LLC, in the transaction. The buyer's representative and the sales price for the acquisition were not disclosed.
On the Map
Players
Conroe CRE Market Snapshot
Boundary boundary · CRE · 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