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HFF Closes Sale of Four-Property Self Storage Portfolio in Texas

HFF Closes Sale of Four-Property Self Storage Portfolio in Texas
Posted: 11/28/2016 Link: HFFLP.com
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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.

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