HOUSTON, TX – HFF announced today that it has closed the sale of a two-property self storage portfolio totaling approximately 163,000 square feet in the Dallas area.
HFF marketed the offering exclusively on behalf of the seller, 5B Investments, Inc. Extra Space Self Storage purchased the properties for an undisclosed amount free and clear of debt.
The first of the two properties is located in Dallas at the intersection of Preston Road and President George Bush Turnpike. The facility was completed in 1998 and contains 540 units, 71 percent of which are climate controlled.
The second property in the portfolio is located in Grand Prairie along Highway 360 between Dallas and Fort Worth. The facility was completed in 2000 and contains 856 units, 59 percent of which are climate controlled.
Both properties have been maintained to institutional standards and include a mixture of self storage and RV/surface units.
The HFF team representing the seller was led by senior managing director Aaron Swerdlin (top right photo).
For a complete copy of the company’s news release, please contact::
AARON A. SWERDLIN
HFF Senior Managing Director
(713) 852-3500
KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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