Andover Properties Acquires Self-Storage Facilities Portfolio In Garland, Argyle, College Station & San Antonio
Garland, Texas, United States
Building Size
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Asset Type
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Closing
Aug 7, 2022
AI
A self-storage facilities portfolio consisting of 2,199 units has been sold in the markets of Garland, Argyle, College Station, and San Antonio. The transaction took place on 08/08/2022. The buyer in this sale is Andover Properties. The portfolio includes properties in various locations and offers ample storage space for individuals and businesses.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: Not specified
- Units: 2,199
- Market: Garland, Argyle, College Station & San Antonio
Brokers Dave Knobler & Charles LeClaire from Marcus & Millichap represented Andover Properties in this transaction. Their expertise and negotiation skills played a vital role in the successful completion of the deal. The specific price or any loan amount involved in the transaction has not been provided in the given information.
Players
Garland 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