A private equity real estate fund advised by Crow Holdings Capital has sold a two-property self-storage portfolio totaling 1,603 units in the Houston and Chicago MSAs.
National Storage Affiliates Trust acquired the assets; however, the sales price was not disclosed.
The portfolio comprises the 857-unit Sugar Land Self Storage in Richmond, Texas, and the 746-unit Crestwood Self Storage in Crestwood, Ill. Sugar Land Self Storage is a well-maintained, stabilized asset that features a mix of climate-controlled and drive-up units, an on-site apartment, and a retail office. Constructed in 1998 and expanded in 2003, the four-story facility is situated on eight acres at 1728 Crabb River Road just south of Interstate 69, one of the major traffic arteries in the Houston area.
Crestwood Self Storage contains six single-story buildings built in two phases in 1974 and 2017, with the original buildings undergoing renovations in 2018. The facility houses a mix of drive-up and
