Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of a four-property, Store Here-branded self storage portfolio totaling 2,162 units in Austin, Denton, Fort Worth and Harker Heights, Texas.
HFF marketed the property on behalf of the seller, a joint venture partnership between Woodbridge Capital Partners, LLC and RHW Capital Management Group, LLC. Westport Properties, Inc. purchased the portfolio.
The portfolio comprises facilities at 201 West Stassney Lane in Austin; 1815 Shady Oaks Drive in Denton; 4772 Golden Triangle Boulevard in Fort Worth and 700 Indian Trail in Harker Heights (Killeen area). The portfolio features 420 climate-controlled units, which is 19.4 percent of the total units; three warehouse/commercial spaces and 77 RV/surface parking spaces. All of the properties are in highly-visible and accessible locations along the Interstate 35 corridor, a major north-south arterial highway that stretches approximately 500 miles within Texas and connects four of the state’s major cities: Austin, Dallas, Fort Worth and San Antonio.
The HFF self storage team representing the development manager was led by director Barbara Guffey, managing director Richard Schontz and associate director Matthew Weckesser.
“The acquisition of the Store Here portfolio provided Westport Properties with the scale and geographic diversification among some of the highest-growth areas in the state,” Guffey said. “The quality of the facilities are a complement to Westport’s ever-growing national platform.”
About Woodbridge Capital Partners, LLC
Woodbridge Capital Partners was founded by Wall Street veteran William T. Lappas in 2002. Woodbridge has been an active investor in real estate and specifically Self Storage properties across the United States. Woodbridge has worked with a number of self storage operators and is a partner with RHW Management Group in Store Here Self Storage.
About RHW Capital Management Group, LLC
RHW Capital Management Group was formed in 2012 as a vehicle to acquire self storage assets and manage ongoing projects with state-of-the-art industry leading practices. Operating under the Store Here Self Storage trade name, RHW has grown its operations to 36 facilities in 8 states including Alabama, California, Colorado, Georgia, Indiana, Kansas, Louisiana and Texas.
About Westport Properties, Inc.
Westport Properties, Inc., holding company of US Storage Centers (USSC), was founded in 1985 by Barry Hoeven and specializes in the self storage industry. With a combined experience of over 100 years in the real estate, construction and self storage industries, the team at USSC has grown to currently operating over 110 facilities equating to over 7.5 million rentable square feet of self storage with over 55,000 tenants in 13 states including California, Arizona, Washington, Oregon, Colorado, Florida, Massachusetts, Maryland, Nevada, Georgia, Tennessee, Texas and Louisiana. The company also plans an expansion into New Jersey and New York in the coming months. They plan to continue to expand with the acquisition of institutional quality assets throughout the USA that are in major MSAs. Learn more atwww.USStorageCenters.com.
About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
