REIT Public Storage Acquires Self-Storage In Houston For $Unknown
5600 FM646, Dickinson, TX, USA
Building Size
235,918 SF
Asset Type
Other
Closing
Dec 5, 2019
AI
An self-storage property located at 5600 Fm 646 Road W & 5009 FM 1764 Road in Houston was recently sold in a transaction that took place on December 6, 2019. The property spans across 235,918 square feet and is situated in the Dickinson & La Marque market.
Summary of transaction details:
- Property Type: Self-Storage
- Transaction Date: December 6, 2019
- Address: 5600 Fm 646 Road W & 5009 FM 1764 Road, Houston
- Market: Dickinson & La Marque
- Buyer: REIT Public Storage
- Broker: Bellomy & Co. - Bill Bellomy & Michael Johnson
- Square Footage: 235,918
The buyer in this transaction was REIT Public Storage, a prominent real estate investment trust. The sale was facilitated by Bellomy & Co., with Bill Bellomy and Michael Johnson serving as the brokers representing the parties involved.
Players
Dickinson Other Market Snapshot
Boundary boundary · Other · 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