iCrowdNewswire Feb 11, 2021 2:46 PM ET
VanWest Partners, an opportunistic investment firm specializing in commercial real estate acquisition, management, and sales, announces the acquisition of two self-storage facilities to its newest fund, VanWest Self Storage Fund II, LLC.
Rome Hilliard Self Storage is located at 466 Hilliard Rome Rd in Columbus, marking the firm’s first property in the Columbus metro area. The facility includes 380 storage units totaling 49,760 net rentable square feet in addition to nearly 150 rentable parking spaces for boats or RVs.
Betta Stor-It is located at 2614 HWY 98 West in Mary Ester, Florida in close proximity to several other assets owned by the firm. The center includes 328 storage units totaling 37,500 net rentable square feet and 14 boat and RV parking spaces. The facility is the firm’s fifth acquisition in the Florida panhandle market.
VanWest plans to rebrand both facilities under its ClearHome Self Storage management platform and implement its innovative systems of technology and property management operations to maximize revenue at each property.
Fund II will be comprised of a diverse mix of storage facilities within select markets of the United States, and provide an investment opportunity that combines current income as well as capital appreciation.
“We’ve had interest in the Ohio market for some time and are thrilled to close our first acquisition in Columbus, a town that we believe is poised for meaningful growth in the coming years. Having gotten to know the Florida panhandle well since our first acquisition there in early 2019, we’re excited to leverage our market knowledge on this latest acquisition as well as offer our customer base another storage solution. Both of these facilities reflect our acquisition criteria perfectly – strong in-place cash flow, sound market fundamentals, and real potential for revenue and NOI growth,” said Jacob Vanderslice, Managing Partner of VanWest.
VanWest Partners and its affiliates have successfully invested in 25 self-storage projects totaling over 1,250,000 net rentable square feet and over 11,000 units.
About VanWest Partners
VanWest Partners is an opportunistic investment firm specializing in commercial and residential real estate within the United States. By harnessing a diversified strategy and uncovering value in often-overlooked markets, VanWest maximizes investment performance for its stakeholders while avoiding the traditional, single focus strategy of many investment companies. At VanWest, we reveal and maximize opportunity to make a positive and lasting impact. Learn more about VanWest at VanWestpartners.com or on LinkedIN.