Updated Oct 29, 2024
Hinze Capital Acquires Spicewood Super Storage Self Storage Facility Near Austin
9514 East State Highway 71 Spicewood, Texas 78669, USA
Building Size
83,510 SF
Asset Type
Self Storage
Closing
Jun 29, 2023
About this deal
AI
Hinze Capital has acquired Spicewood Super Storage, a 222-unit self-storage facility located at 9514 E State Highway 71 in Spicewood. The property spans a total of 83,510 square feet and offers storage spaces for boats and RVs.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: Not specified
- Units: 222
- Square Footage: 83,510
- Address: 9514 E State Highway 71
- Market: Spicewood
The acquisition of Spicewood Super Storage by Hinze Capital was facilitated by brokers Michael Johnson, Logan Foster, and Hugh Horne of the Versal agency. The storage facility adds to Hinze Capital's portfolio and offers convenient storage options for individuals with boats and RVs in the Austin area.
Players
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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