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
Texas Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
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