Updated Oct 29, 2024
Private Investor Acquires Self Storage On E Belt Line Rd, Cedar Hill
611 E Belt Line Rd, Cedar Hill, TX, 75...
Building Size
85,550 SF
Asset Type
Self Storage
Closing
Nov 20, 2023
About this deal
AI
The sale involved Allsafe Self Storage, a 85,550-square-foot facility located at 611 E Belt Line Rd, Cedar Hill, TX. Constructed in 2000 and expanded in 2011, the property comprises 599 units. Kyle Newswanger of Colliers International represented the seller, a private developer and investor. The buyer, an out-of-state private investor, was secured by Newswanger as well.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not disclosed
- Market: Cedar Hill
- Seller's Rep: Kyle Newswanger (Colliers International)
- Buyer: Private Investor
- Square Footage: 85,550 SF
The deal was facilitated by Kyle Newswanger of Colliers International, who not only represented the seller, a private developer and investor, but also brought in the buyer, an out-of-state private investor. The transaction involved the transfer of ownership of the Allsafe Self Storage property in Cedar Hill, Texas.
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Self Storage
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Cedar Hill Self Storage Market Snapshot
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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