Updated Sep 9, 2024
Ryan Clark Of SkyView Advisors Sells Self Storage Facility In Dallas Area
7701 Banner Dr, Dallas, TX, 75251
Units
908
Asset Type
Self Storage
Closing
Nov 22, 2023
About this deal
AI
The 908-unit Extra Space Storage facility located at 7701 Banner Drive in north Dallas has been sold. The property, sitting on a 1.1-acre lot, offers 77,162 net rentable square feet. The seller's representative, Ryan Clark of SkyView Advisors, facilitated the sale of the self-storage asset. The buyer and the sales price remain undisclosed.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: Not disclosed
- Address: 7701 Banner Dr, Dallas, TX, 75251
- Market: Dallas
- Seller's Rep: Bryan Clark (JLL)
SkyView Advisors, a Tampa-based brokerage firm, played a key role in the transaction, assisting the undisclosed seller in the sale of the self-storage facility. The sale, completed in North Dallas, involved the transfer of the property from the seller to the undisclosed buyer, marking a significant transaction in the self-storage market.
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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