Montfort Capital Partners Acquires Houston-Area Storage
1 min read
JLL Capital Markets represented Quintet Capital Group in the sale of the 678-unit property.
Montfort Capital Partners has acquired Savannah HWY6, a 102,162-square-foot self storage facility in Rosharon, Texas. Quintet Capital Group sold the 678-unit property. The asset became subject to a loan provided by North Dallas Bank & Trust Bank, Yardi Matrix data shows.
The property operates under the Simply Self Storage brand.
Managing Directors Steve Mellon and Brian Somoza, alongside Directors Adam Roossien and Matthew Wheeler of JLL Capital Markets represented the seller in the transaction.
Savannah HWY6 was completed in September 2022 and sits on 4.3 acres. The six-building, two-story property offers climate and non-climate-controlled units, ranging from 25 to 300 square feet. On-site amenities include video surveillance, cylinder locks, gated and drive-up access, packing supplies and on-site management.
The property is located at 14215 Highway 6 in Fort Bend County, 24 miles from Houston and less than 2 miles from the regional Houston Southwest Airport. The facility is one of the five available within a 3-mile radius, offering residents 15.3 rentable square feet per capita. According to Yardi Matrix data, 118 self storage properties transacted in the Houston market year-to-date, adding up to nearly 9 million square feet.
Some of the self storage facilities that traded in Houston in the last few months include a 69,839-square-foot property sold by Business Property Trust and situated just 15 miles from downtown Houston, as well as Prime Storage, a 189,088-square-foot asset acquired by Public Storage. One of the largest transactions included Andover Properties’ portfolio acquisition of four facilities, totaling 429,169 square feet.