07 Jan 2021
DENVER--(BUSINESS WIRE)--SpareBox Storage, a national self storage platform focusing on consolidating the highly fragmented and attractive self-storage market across the US. closed out 2020 with a portfolio acquisition in eastern New Hampshire. SpareBox Storage acquired 12 stabilized self storage properties consisting of 320,000 net rentable square feet and 2,500 units with approximately 85% occupancy. The demographics and growth in this market are highly attractive, and SpareBox Storage has achieved considerable market penetration with this transaction.
Steve Treadwell, CEO of SpareBox Storage said, “With this portfolio transaction, SpareBox Storage continues to execute on our strategy of acquiring quality, stabilized assets in secondary and tertiary markets with attractive demographic trends and positive market fundamentals. SpareBox is sponsored by Rizk Ventures and led by industry veteran Steve Treadwell.
Rizk Ventures is a special situation operating and investment platform with a focus on real estate, technology and healthcare. Rizk Ventures has built operating platforms in the real estate space across a number of sectors both in the United States, as well as Latin America.
