03 Mar 2021
CHARLOTTE, N.C.--(BUSINESS WIRE)--Go Store It, a premier self storage operator in the U.S., today announced that its joint venture with an affiliate of Cerberus Capital Management, L.P. (“Cerberus”) has closed on twelve storage assets totaling 6,000 units and over 850,000 rentable square feet.
In July 2020, Go Store It and Cerberus established a joint venture focused on building a diversified portfolio of premier self storage facilities across the United States. To date, the joint venture has acquired assets in Florida, Virginia, North Carolina, South Carolina, and Texas and will continue to add Class A self storage assets in key markets across the United States.
Go Store It is an industry-leader in the U.S. self storage market, and since its inception in 2013, has acquired or developed over 3.3 million square feet of space. Cerberus has a long track record investing across real estate asset classes, property types, and geographies, and has deployed approximately $29 billion of equity in more than 575 transactions around the world.
“This joint venture is a unique opportunity to combine our market knowledge with Cerberus’ global expertise to develop a best-in-class, national portfolio of assets,” said Ryan Hanks, Founder and CEO of Go Store It. “Our recent acquisitions give us immediate scale in several of our target markets and we are excited to continue to expand our presence in both existing and new markets.”
Tom Wagner, Head of North American Real Estate at Cerberus, commented, “We see strong trends in the self-storage space and look forward to continuing our partnership with Go Store It to build a premier portfolio of self-storage properties across the United States.”
Based in Charlotte, NC, Go Store It is a real estate investment company focused on the development, acquisition, and management of self-storage assets throughout the United States. Currently, Go Store It owns over 3.3m square feet of self-storage, comprising over 30,000 units. Go Store It is an affiliate of Madison Capital Group, LLC which has offices in Charlotte, Charleston, and Nashville.
Founded in 1992, Cerberus is a global leader in alternative investing with over $48 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.
