SROA Capital has acquired a five-property, 2,327-unit self-storage portfolio from Madison Capital Group. Three facilities are in the Houston metro area. The largest was a 117,960-square-foot facility on Tanner Road, consisting of 11 single-story buildings across 9 acres. 

Northwestern Mutual provided a $65 million, 8-year acquisition loan, but the financing also encompasses seven other assets. 

All five properties bought from Madison Capital Group operated under the Go Store It brand. The facilities are now part of SROA’s Storage Rentals of America brand. Completed between 1998 and 2014, the properties provide more than 340,000 rentable square feet in climate—and non-climate-controlled units, as well as RV and boat storage.

Matthew Wheeler and Adam Roossien, together with Brian Somoza and Steve Mellon, led the JLL Capital Markets Self Storage team representing the seller. Griffin Guthneck led the JLL Self Storage Debt Advisory team that worked on securing the loan.