A joint venture between Trez Capital and Hines purchased the 101,931-square-foot self-storage facility at 570 Country Club Road in Wylie, TX. The 11-building facility, branded CubeSmart at time of sale, has 760 units and 75 RV parking spots. The deal is the joint venture’s second purchase together.
Marcus & Millichap reports the following:
- Five Star Storage purchased a three property self-storage portfolio in Fargo, ND. The Security Self Storage portfolio spans 163,720 square feet and offers 1,319 units. Adam Schlosser Marcus & Millichap’s Denver-based LeClaire Group and Chris Kampmeyer of the firm’s Minneapolis office represented the seller. Purchase price was not disclosed.
- Schlosser, with James Behrman of the Phoenix office, also represented the seller of Southern Pavilion Self Storage in Mesa, AZ. The 47,895-square-foot self-storage facility has 483 storage units. Schlosser and Beherman also secured the buyer, Wentworth Property Company.
Andover Properties reports the following:
Andover Properties, operator of Storage King USA, purchased West Side Storage at 1252 Mina Avenue in Copley, OH. The property, located in the Akron area, is the company’s first investment in Ohio. The facility covers 57,000 square feet and sits on 12 acres where future expansion is planned.
Talonvest Capital reports the following:
The William Warren Group purchased a 73,455 square foot, 100% climate-controlled, recently built, single story storage property in Venice, FL. Talonvest structured a non-recourse, 5-year, acquisition-bridge loan from a life company that features a 4.5% fixed interest rate, 30 months of interest-only payments, and no financial or leasing covenants during the loan term. William Warren operates the StorQuest brand of storage.