02 Jan 2020
DENVER--(BUSINESS WIRE)--
VanWest Partners announced the addition of two new storage fund assets to its growing VanWest Storage Fund I, LLC with the acquisition of All In Self Storage in Walkertown, North Carolina, and StorMor Self Storage in Salisbury, North Carolina. VanWest Storage Fund I, LLC was launched in 2019 with the focus of creating and maintaining investor wealth through local alternative real estate investment strategies in self storage. The Fund has added five self storage facilities to its portfolio this past year after launching in April of 2019.
Both new assets were acquired in the fourth quarter. All In Self Storage, built in 2017, is located at 2875 Rocky Branch Road in Walkertown, and includes 315 storage units totaling 45,575 square feet in addition to a boat and RV parking pad that was just opened. StorMor Self Storage, located at 4185 Statesville Blvd in Salisbury, was acquired on November 6th, 2019. Built in 2006, it contains 282 units totaling 49,600 square feet.
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.
“These two properties continue to diversify the Fund and establish our presence in the North Carolina market. All In and StorMor are perfect examples of how we strategically enter markets, acquire multiple assets, and drive management efficiencies by operating multiple facilities within close proximity to one another,” said Jacob Vanderslice, Managing Partner of VanWest.
VanWest Partners and its affiliates have successfully invested in 18 self storage projects totaling over 1,000,000 rentable square feet. Projects include multi-story ground-up development, adaptive reuse and value add to existing facilities.
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.
Thumbnail: Photo by Daniel Weiss on Unsplash
