Heritage is a 100,000 square foot self storage facility with the only climate controlled units in the market. The property was acquired in an off-market transaction with a low occupancy and below average rents. Management was able to stabilize the property within 3 months of purchasing. Ft. Locks is a 27,930 square foot self storage facility with a mix of climate and non climate controlled units. At purchase the property was only 87% occupied. We added value by employing professional self-storage property management and we were able to quickly raise both property’s values ahead of our projections.

Purchase Price: $9,280,000 (Sep 2019)
Exit: $13,000,000 (May 2022)
Total Return: 48%