Merit Hill Buys Houston-Area Storage Portfolio
- Sep 07, 2018
Merit Hill Capital has acquired two self-storage facilities totaling 144,706 square feet in Katy and Richmond, Texas. The Jenkins Organization traded the two-property portfolio containing StoreIt! Woodcreek and StoreIt! Seven Meadows. CubeSmart was appointed to manage the properties, according to Yardi Matrix.
Located at 1429 FM 1463 in Katy, StoreIt! Woodcreek is alongside Interstate 10, approximately 30 miles from downtown Houston. The facility was constructed in 2013 and comprises 563 climate- and non-climate-controlled units, ranging from 25 to 300 square feet. Characteristics of the facility include a gate, drive-up access, security cameras and parking spaces.
The Richmond property is situated at 23110 FM 1093 on nearly 4 acres, just off Westpark Tollway and Freeway 99, roughly 26 miles from downtown Houston. Built in 2002, Seven Meadows encompasses 525 climate- and non-climate-controlled units, ranging from 25 to 300 square feet. The four-building storage property is gated and features drive-up access, security cameras and vehicle and RV parking spaces.
In June, Merit Hill Capital purchased Safe Keeping Self Storage, a 76,485-square-foot storage facility in Baytown, a suburb of Houston.
Images courtesy of The Jenkins Organization