Updated Oct 29, 2024
Cardiff Mason Development Sells Property At 5321 Richmond Ave Houston With Seller's Rep Greg Wells
5321 Richmond Ave, Houston, TX 77056
Units
797
Asset Type
Self Storage
Closing
Nov 20, 2023
About this deal
AI
A partnership between Cushman & Wakefield and JLL facilitated the sale of a self-storage facility at 5321 Richmond Ave, located in the Galleria-Uptown area of Houston. The facility consists of 797 units and was part of a transaction that included an additional 849-unit facility in Los Angeles. The total space across both properties exceeds 158,000 square feet.
Summary of transation details:
- Property Type: Self-storage facility
- Transaction Amount: Not disclosed
- Address: 5321 Richmond Ave, Houston, TX
- Market: Houston
- Seller: Cardiff Mason Development
- Buyer's Representative: Unknown
- Seller's Representative: Greg Wells - Cushman & Wakefield
Greg Wells of Cushman & Wakefield and Steve Mellon of JLL represented Cardiff Mason Development in this transaction. The buyer remains undisclosed, identified only as a national owner/operator.
On the Map
Self Storage
View full map
Players
Houston Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
Deal FAQ
Browse Texas self storage sales on Traded.
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