The facilities comprise 69,757 net rentable square feet in 454 units
January 5, 2021: Real estate firm Merit Hill Capital LP, which acquires, owns and manages self-storage facilities nationwide, purchased a two-property Bargain Storage portfolio in Houston.
The two-property facility is located about a half mile apart at 11539 Canemont and 12151 Ormandy. Together, the facilities comprise 69,757 net rentable square feet in 454 units.
The buyer and the seller, an Oregon-based LLC, were represented in the transaction by Charles "Chico" LeClaire, executive managing director of investments, and Dave Knobler, first vice president of investments, for the LeClaire-Schlosser Group of M&M.
Merit Hill founded in 2016 by Liz Raun Schlesinger. The company has acquired more than 178 self-storage facilities, in over 110 separate transactions, consisting of 83,700 individual storage units and 10,000,000 net rentable square feet across 32 states.