A self-storage facility property roughly covering 4 acres on South Range Road Avenue in Denham Springs is now owned by one of the largest operators in the industry as part of a portfolio acquisition.
California real estate investment trust Public Storage Operating Company, based in California, paid $5.2 million for the 4-acre property on South Range Avenue, near T’Quilas Bar and Grill. The deal, filed Monday with the Livingston Parish Clerk of Court, was made through Delaware-registered PS Gulf Coast LLC.
The facility—formerly operated by Extra Space Storage—features 459 units and was part of a national portfolio once managed by CubeSmart and Extra Space. Merit Hill Capital acquired the Denham Springs site in 2022 as part of a 33-property purchase.
Sharon Linder, vice president of Public Storage, represented the buyer. Matthew Dabrowski represented the seller, MHC 134 Denham Springs LLC, a partnership between New York-based Centerbridge Partners and Merit Hill Capital.
According to the sales documents filed, the Public Storage Operating Company board of trustees in October approved the acquisition of the Merit Hill portfolio of self-storage facilities for a purchase price up to $1.35 billion.
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