30 Oct 2019
This article originally appeared on Sparefoot.com.
A real estate investment firm in Southern California has brought aboard a self storage industry veteran to lead the formation of a storage portfolio comprising at least 100 facilities.
James Hanrahan, former managing partner of Orange, CA-based RHW Capital Management Group LLC and former partner of RHW’s Store Here Self Storage Management LLC, recently joined The Beverly Park Group as managing principal and director of self-storage acquisitions.
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Hanrahan said The Beverly Park Group, based in Newport Beach, CA, plans to ...
... due to the operational instability of the properties. Therefore, he said, potential buyers are passing over these facilities for certificate-of-occupancy acquisitions.
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Most notably, William Lappas, co-founder and managing principal of The Beverly Park Group, helmed a joint venture between Store Here and Los Angeles, CA-based investment manager Westport Capital Partners LLC that sold a 27-facility, six-state portfolio in November 2017 to Greenwood Village, CO-based REIT National Storage Affiliates Trust.
