Trico Investments, a real estate investment company specializing in self-storage properties, has acquired a two-story facility in Homestead, Fla. The facility at 701 S. Homestead Blvd. features about 500 units and was built in 1986 on 3 acres. It was purchased in cash from Homestead US 1 Self Storage LLC.
Trico plans to reposition the asset, company officials said in a press release. Based in Irvine, Calif., the firm has developed and acquired approximately 100 self-storage facilities by targeting infill properties within populated areas that have high barriers to entry.
The company will continue to target self-storage assets in California, Florida and Texas for acquisition and repositioning in 2014, officials said.