Simply Self Storage has acquired the 14-property Storage Choice portfolio in the Dallas and Houston metropolitan markets. The facilities comprise more than 1 million rentable square feet in 9,878 units. The purchase increases Simply’s footprint in the region to 29 locations, according to a press release.
“This acquisition expands our presence within two of the most economically active and thriving metros in the U.S.,” said Simply CEO Kyle Schmutzler.
“Houston and Dallas continue to experience tremendous growth, and these properties are experiencing strong consumer demand levels that have shown strength year over year,” added Scott Levy, executive vice president of investments for Simply. “The increasing demand that we continue to experience in these markets shows the growth opportunity that exists within Texas as well as the value proposition we provide to our customers.”
Storage Choice was represented in the transaction by Kenneth Cox, executive managing director, and Aaron Swerdlin, vice chairman, of the Newmark Self Storage Group, an entity of commercial real estate firm Newmark Group Inc.
Founded in 2003, Simply operates more than 12 million square feet of self-storage in 23 states. It’s part of the Blackstone Inc. portfolio of companies. It was acquired by affiliate Blackstone Real Estate Income Trust Inc., a non-traded real estate investment platform, in December 2020.