HOUSTON-Sovran Self Storage Inc. has purchased 22 self-storage facilities in Texas for a total price of $111 million. The properties include 18 in Houston, 1 in Dallas-Fort Worth and 3 in Austin. The company used the proceeds of its operating cash flow and line of credit to fund the purchase of the 1.3-million-square-foot self-storage facilities, which will be rebranded under its trade name of Uncle Bob's Self Storage.
Sovran has also bought a facility in Atlanta for $9.5 million. For the full story, go to Buffalo Business First .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.