Argus Professional Storage Management (APSM), a provider of third-party management services to the self-storage industry, has added six facilities to its management portfolio. The properties are in New Mexico and will operate under the U-Store-It brand name. They were recently purchased by Moneyball Investors I from CubeSmart, a self-storage real estate investment trust.
APSM worked with Moneyball to acquire the assets and assume their operation, bringing its number of managed facilities to seven. Principal Korey Hanson will lead the team responsible for day-to-day operation and oversee the portfolio.
APSM specializes in small markets. The company was formed last March as a strategic partnership between Argus Self Storage Sales Network (ASSSN) and Professional Self Storage Management LLC (PSSM). The management-services group works with ASSSN broker affiliates to assist self-storage owners with third-party management needs and help them enhance facility value.
APSM principals Mel Holsinger, president of Professional Self Storage Management and a 29-year self-storage veteran, and Ben Vestal, ASSSN president and a seasoned real estate broker, said they are expanding operation into second- and third-tier markets.
Based in Denver, ASSSN was formed in 1994 to assist owners and investors of self-storage. The firm has 36 broker affiliates covering nearly 40 markets.
Professional Self Storage Management, launched by Holsinger in 2003, manages facilities in Arizona, California, Colorado and Texas.