H. Michael Schwartz Of SmartStop Self Storage REIT Acquires Five-Property Self Storage Portfolio In Houston
2412 West Holcombe Boulevard, 21836 Holzwarth Road, 9040 Louetta Road, 32620 Fm 2978 Road & 18250 Interstate 45
Building Size
2,100,000 SF
Asset Type
Self Storage
Closing
Jun 18, 2025
AI
The transaction involved a self-storage portfolio comprising five properties located at 2412 West Holcombe Boulevard, 21836 Holzwarth Road, 9040 Louetta Road, 32620 Fm 2978 Road, and 18250 Interstate 45. This portfolio encompasses 3,800 units with a total of 420,000 net rentable square feet in the markets of Houston, Spring, Magnolia, and Shenandoah.
Summary of transation details:
- Property Type: Self Storage
- Transaction Amount: Not specified
- Buyer: H. Michael Schwartz - SmartStop Self Storage REIT
- Seller: Kathy Tautenhahn & Scott Tautenhahn - Amazing Spaces Storage Centers
- Broker: Aaron Swerdlin - Newmark
The deal was facilitated by Aaron Swerdlin of Newmark, who played a key role in the acquisition by SmartStop Self Storage REIT from developers Kathy and Scott Tautenhahn of Amazing Spaces Storage Centers.
Players
Houston 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