Simply Self Storage, a Blackstone portfolio company, has acquired a 14-property self-storage portfolio in the Dallas and Houston metropolitan areas.
Financial terms of this transaction were not disclosed.
This strategic acquisition expands Simply Self Storage’s presence in Texas’ most attractive submarkets, where the company now owns 29 institutional-quality self-storage properties.
The portfolio of 14 Storage Choice properties comprises 9,878 units with more than 1 million net rentable square feet, of which 633,058 square feet contain climate-controlled space. Each property serves densely populated and continuously growing areas, with established consumer bases and record, rising occupancy levels. Storage Choice was represented by Newmark Group, led by Aaron Swerdlin and Kenneth Cox.
“Houston and Dallas continue to experience tremendous growth, and these properties are experiencing strong consumer demand levels that have shown strength year-over-ye