Simply Self Storage (the “Company”), a premier provider of storage solutions for a wide range of customer needs, today announced the acquisition of a seven-property self-storage portfolio in Houston and a self-storage property in Dallas. Financial terms of these transactions were not disclosed.
Simply Self Storage owns and operates a portfolio of approximately 80,169 units, encompassing more than 11 million net rentable square feet in 23 states. Its customers benefit from a leading suite of customizable solutions to address a broad range of storage requirements and preferences through its data-driven and technology-enabled management platform. Simply Self Storage is continuing to invest and expand its presence in high-growth markets that benefit from positive, long-term demographic trends.
“We are pleased to complete these acquisitions and expand Simply Self Storage’s offerings within the Houston and Dallas markets,” said Kyle Schmutzler, CEO of Simply Self Storage. “The importance of a customer-centric approach has increased significantly in today’s environment, and our platform is uniquely suited to meet these needs with high-quality, diversified storage options.”
“Houston and Dallas represent two of the most attractive submarkets in Texas, and we expect each will continue to benefit from strong consumer demand,” said Scott Levy, Executive Vice President, Investments at Simply Self Storage. “This is an exciting step in our continued efforts to accelerate Simply Self Storage’s national growth and bring the unmatched quality we are known for to a wider range of customers.”
Comprising seven facilities totaling nearly 620,000 net rentable square feet across more than 3,600 units, the Houston portfolio includes more than 207,000 square feet of climate-controlled space. Each of the seven facilities are highly visible, easily accessible and prominently located within some of the highest growth areas of the Houston market, which continues to benefit from an established consumer base and record high occupancy levels.
The Dallas property consists of 65,950 net rentable square feet. The property is centrally located in a mature residential community with excellent freeway visibility and population density and will benefit from strong demographic tailwinds.