Madison Capital Group and affiliates of Cerberus Capital Management have sold a five-property self-storage portfolio totaling 2,327 units in the metropolitan areas of Houston, and Providence, R.I.
JLL represented the seller in the sale of the properties. JLL worked on behalf of the buyer to secure acquisition financing.
The portfolio includes three Texas properties located at 2919 S Highway 146 in Bacliff and 12610 Tanner Road and 4100 W. 34th in Houston. The Rhode Island properties are located at 3346 Pawtucket Ave. in East Providence and 1115 Main St. in Hope Valley.
All of the properties were branded under the Go Store It name and consist of single- and two-story drive-up properties that are well-occupied. Completed between 1998 and 2014, the facilities total more than 340,000 square feet and offer a mix of climate-controlled and non-climate-controlled units, on-site security and RV and boat storage at select properties.
