HFF Closes Sale of Self-Storage Portfolio in Texas
- Nov 29, 2016
Houston—HFF announced that it has closed the sale of a four-property, Store Here-branded self-storage portfolio encompassing 2,162 units in Austin, Denton, Fort Worth and Harker Heights, Texas.
The portfolio consists of 201 West Stassney Lane in Austin, 1815 Shady Oaks Drive in Denton, 4772 Golden Triangle Blvd. in Fort Worth and 700 Indian Trail in Harker Heights (Killeen area). It comprises three warehouse/commercial spaces, 77 RV/surface parking space and 420 climate-controlled units, which represents 19.4 percent of the total units. All facilities are sited in highly-visible and accessible locations along the Interstate 35 corridor, a major north-south arterial highway that stretches around 500 miles within Texas and connects four of the state’s major cities: Austin, Dallas, Fort Worth and San Antonio.
HFF marketed the assets on behalf of the seller, a joint venture partnership between Woodbridge Capital Partners LLC and RHW Capital Management Group LLC. The HFF self-storage team representing the development manager was led by Director Barbara Guffey, Managing Director Richard Schontz and Associate Director Matthew Weckesser. California-based Westport Properties Inc. acquired the portfolio for an undisclosed amount.
“The acquisition of the Store Here portfolio provided Westport Properties with the scale and geographic diversification among some of the highest-growth areas in the state,” Guffey said in prepared remarks. “The quality of the facilities is a complement to Westport’s ever-growing national platform.”
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