December 7, 2018
Merit Hill Capital LP, a real estate investment firm in Brooklyn, NY, acquired the 66,575-square-foot 549-unit Gladstell Self-Storage property in Conroe, TX. Merit Hill struck the deal with seller PV Conroe Storage LLC. The asset sold for an undisclosed price. Nick Walker and Trevor Roberts with CBRE represented the seller.
The asset is at 810 Gladstell Rd. in Conroe, a far-north suburb of Houston. In addition to the storage units, the property, which delivered in the late 1990s, offers 50 RV/boat parking spaces.
“The greater Houston metro area has seen continuous job growth, which in turn has fueled a tremendous economic expansion and population increase,” Walker said. “The number of homes sold in the greater Houston area last year was at an all-time high. This property is in a fantastic location to take advantage of and service this type of growth.”
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