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200 Norman, Midland, TX 797...

KO Storage Acquires Atlas Self Storage In Midland, West Texas
SOLDSelf Storage

KO Storage Acquires Atlas Self Storage In Midland, West Texas

200 Norman, Midland, TX 79701, United States

Building Size

Asset Type

Self Storage

Closing

Jun 12, 2023

AI

Atlas Self Storage, a 116-unit facility located at 200 Norman Street in Midland, West Texas, has been sold. The buyer, KO Storage, has acquired this self-storage property from the seller. The transaction was facilitated by JLL, with Adam Roossien, Matthew Wheeler, Steve Mellon, and Brian Somoza representing both parties.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: Not specified
  • Number of Units: 116
  • Address: 200 Norman Street, Midland, West Texas
  • Market: Midland

JLL, through their representatives Adam Roossien, Matthew Wheeler, Steve Mellon, and Brian Somoza, successfully negotiated the sale of Atlas Self Storage to KO Storage. This transaction highlights the expertise and professionalism of JLL in the real estate industry, ensuring a seamless transaction for both the buyer and seller.

Players

Adam Roossien

JLL

Broker

$138.7M

vol

14 deals

Broker

Texas 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