Merit Hill Acquires Houston Self Storage Asset
- Aug 14, 2019
Merit Hill Capital has acquired Safe Keeping Self Storage, an 88,150-square-foot facility in Houston. JLL’s Capital Markets team arranged the sale on behalf of the seller, Safe Keeping.
Located at 6610 Highway 6 North, the facility is just off Freeway 6, approximately 22 miles from downtown Houston. Safe Keeping Self Storage is also situated near residential areas; there are more than 21,000 rental units within a 5-mile radius, according to Yardi Matrix.
Safe Keeping Self Storage was constructed in two phases in 1981 and 2002 and encompasses 709 units, including 439 climate-controlled units. The three-building storage asset occupies 5.7 acres and features a gated entry, drive-up access, security cameras, parking and RV parking spaces. Additional services provided include on-site management and truck rental options.
Managing Directors Brian Somoza and Steve Melon of JLL arranged the transaction. In July the team also arranged the sale of a nine-property portfolio located in Houston, San Antonio and Austin.