Clarion Partners Sells 4217 San Felipe St Houston With Buyer's Representative Aaron Swerdlin
4217 San Felipe St, Houston, TX, 77027
Building Size
54,000 SF
Asset Type
Self Storage
Closing
Feb 26, 2018
AI
A joint venture of Passco Cos. and Patriot Self Storage Management has acquired a self-storage facility located at 4217 San Felipe St, Houston, TX, 77027. The property spans 54,000 square feet and is situated within the Houston market. The asset will be rebranded as Patriot Self Storage following the acquisition.
Summary of transaction details:
- Property Type: Self-storage facility
- Transaction Amount: Not disclosed
- Address: 4217 San Felipe St, Houston, TX, 77027
- Market: Houston
- Buyer’s Representative: Aaron Swerdlin (Newmark)
- Seller: Clarion Partners
- Square Footage: 54,000
The sale was facilitated by the NKF Capital Markets Self Storage Group, acting on behalf of the seller, a partnership between Clarion Partners and Private Mini Storage. The property is strategically located in the River Oaks residential neighborhood, approximately 15 minutes from downtown Houston, near significant employment centers such as the Houston Medical Center.
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