SELF STORAGE

While demand for self-storage units has grown considerably over the last ten years, there has been little new development since the great recession. According to industry reports, there were 600 facilities completed in 2016, compared to the average of 2,100 facilities per year from 2000 to 2009. This dearth of new construction has benefited existing facilities which have seen occupancy and rent numbers at or near all-time highs. These market conditions have caused many industry veterans to proclaim that development should be a profitable strategy for years to come. With in-house site selection, development, and construction expertise, we are uniquely positioned to move quickly and take advantage of opportunities capable of delivering above-market returns to our investors.

Ownership within the self-storage industry is highly fragmented with over 85% of existing facilities held by owners with portfolios of four facilities or less. This fragmented ownership creates opportunities for sophisticated investors to acquire existing facilities and drive outsized returns through operational efficiencies and carefully executed capital improvement plans. We focus on highly desirable, growing communities when selecting potential existing storage investments. We execute our acquisitions strategy by acquiring existing facilities, certificate of occupancy deals, and development projects in the process of being entitled.