Updated Nov 27, 2024
Blackstone Acquires 14-Property Self Storage Portfolio In Texas From Storage Choice
Texas, USA
Building Size
1,000,000 SF
Asset Type
Industrial
Closing
Nov 22, 2021
About this deal
AI
Blackstone and Simply Self Storage have completed the purchase of a 14-property portfolio consisting of self-storage units in Texas. The transaction, facilitated by Newmark, involved the sale of Storage Choice's assets. The portfolio comprises approximately 9,878 units with a total area of around 1,000,000 square feet.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: Not specified
- Address: Not specified
- Market: Texas
- Units: 9,878
- Square Footage: 1,000,000 (Approx)
The buyer, Blackstone, and Simply Self Storage, successfully acquired the portfolio of self-storage properties in Texas. The sale was orchestrated by Newmark, who acted as the broker in the transaction.
Players
Lometa Industrial Market Snapshot
Boundary boundary · Industrial · 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