Versal Negotiates Sale of 3,964-Unit Self-Storage Portfolio in Texas

AUSTIN, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of a portfolio of eight self-storage facilities totaling 3,964 units in Texas. The properties are collectively known as the Steelcreek Self Storage Portfolio and have an aggregate net rentable square footage of 620,231 square feet. Five facilities are located in the Dallas area; two facilities are in the Austin area, and the last property is situated in the Houston area. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Dallas-based Steelcreek Management LLC, in the transaction. The team also procured the buyer, Reframe Holdings, an investment firm with offices in South Carolina and Florida. Anna Siradze, Britt Taylor, Ivan Viramontes, Tom Sherlock and Lauren Maehler of California-based Talonvest Capital arranged a $51.3 million acquisition loan through an undisclosed national bank for the deal. The nonrecourse loan carried a five-year term and a floating interest rate.