Updated Oct 29, 2024
LandPark Advisors Acquires Park Central Self Storage In Port Arthur, Texas With Sunset Capital
7301 Memorial Blvd Port Arthur, TX 77640, USA
Building Size
48,430 SF
Asset Type
Self Storage
Closing
Aug 7, 2023
About this deal
AI
Park Central Self Storage, a 312-unit facility in Port Arthur, Texas, has been acquired by LandPark Advisors in partnership with Sunset Capital. The property, located at 7301 Memorial Boulevard, spans 3.8 acres and offers a total of 48,430 square feet of self storage space. It will be operated under the Right Move Storage brand.
Summary of Transaction Details
- Property Type: Self Storage
- Transaction Amount: Not specified
- Units: 312
- Square Footage: 48,430
- Acres: 3.8
- Address: 7301 Memorial Boulevard, Port Arthur, Texas
- Market: Port Arthur
LandPark Advisors, led by Peter Wall, along with Sunset Capital, facilitated the acquisition of Park Central Self Storage. This transaction marks their expansion into the Port Arthur market. With the partnership between LandPark Advisors and Sunset Capital, the facility is expected to benefit from their combined expertise in the self storage industry.
Players
Texas Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Deal FAQ
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