Bellomy & Co. Arranges Sale of Texas Self Storage Asset
- Feb 18, 2020
Bellomy & Co. has facilitated the sale of Academy Mini Storage, a 208-unit self storage facility in Little River-Academy, Texas. Principals Bill Bellomy and Michael Johnson negotiated on behalf of the seller, a local private owner. Another private investor acquired the asset. The deal included an adjacent 9-acre parcel.
At the time of the transaction, the asset was 68 percent occupied. The new owner financed the purchase with a $600,000 loan provided by Group Investment Holdings, according to Bell County records. The mortgage is set to expire in 2025.
Located at 706 Texas Highway 95, the facility was completed in 2004 and encompasses 27,000 square feet across five buildings. The property offers an on-site manager, drive-up access, parking and security cameras. Academy Mini Storage is situated less than 10 miles south of central Temple and some 70 miles north of Austin, in the of the Killeen–Temple–Fort Hood MSA.
Last December, the same brokerage team closed the sale of a two-property portfolio totaling roughly 236,000 square feet in 1,117 units. Public Storage acquired two High Point Storage facilities from a private investor.