DENVER, July 20, 2021 / PRNewswire / – VanWest Partners, an opportunistic investment firm specializing in the acquisition, management and sale of commercial real estate, announces the acquisition of two self-storage facilities from its newest fund, VanWest Self Storage Fund II, LLC.
The portfolio of 2 properties in North Carolina was closed at the end of June and includes self-storage facilities at Shelby, North Carolina and in Hickory, North Carolina. The portfolio totals 219,000 net rental square feet and 1,570 units, including 127 boat and recreational vehicle parking spaces.
VanWest plans to rename the facilities under its ClearHome Self Storage management platform. By leveraging technology coupled with an active and hands-on management approach, ClearHome will generate net operating income by optimizing expense charges and dynamically managing revenue streams. With the addition of the North Carolina Acquisition, VanWest now owns and operates self-storage facilities in 8 states and 12 metropolitan areas nationwide.
VanWest Self Storage Fund II acquired 9 storage facilities in selected target markets within United States. The Fund is designed to provide an investment opportunity that combines sustainable and predictable income streams with capital appreciation. Since the creation of Fund II in January 2021, VanWest has deployed nearly $ 50,000,000 in gross capitalization on the markets, including Florida, Michigan, Ohio, and North Carolina.
“The North Carolina portfolio adds diversity and depth to the Fund II portfolio and complements our North Carolina locations by allowing us to spread fixed operating expenses over a larger, more geographically concentrated asset base. We are delighted to join the Shelby and Hickory business communities, and we look forward to serving our customers as we change brands and improve facilities, ”said Jacob Vanderslice, Managing Partner of VanWest.
VanWest plans to close Fund II by the end of 2021, with acquisitions slated to close in Illinois and Florida at T3. By the end of this year, Fund II will have deployed approximately $ 30,000,000 in equity and near $ 100,000,000 in gross capitalization.
VanWest Partners and its affiliates have successfully invested in 30 self-storage projects totaling 1,800,000 leasable square feet and over 15,000 units. VanWest is among the 100 largest facility owners and 25 largest management companies in the United States.
About VanWest Partners
VanWest Partners is an opportunistic investment firm specializing in commercial and residential real estate within United States. By leveraging a diversified strategy and uncovering value in overlooked target markets, VanWest maximizes return on investment for its stakeholders while avoiding the traditional one-goal strategy of many investment firms. At VanWest, we reveal and maximize the opportunities to have a positive and lasting impact. Learn more about VanWest on VanWestpartners.com or on LinkedIN.
View original content to download multimedia: https://www.prnewswire.com/news-releases/vanwest-partners-acquires-two-properties-for-second-self-storage-fund-301337393.html
SOURCE VanWest Partners