World Class Capital Group (WCCG), an Austin, Texas-based real estate investment firm, has purchased a five-property portfolio from an undisclosed publicly traded self-storage real estate investment trust (REIT). Four of the facilities are in Houston and one is in Indianapolis. Together, they comprise more than 2,500 storage units in 330,000 square feet. The facilities will be rebranded as Great Value Storage.
“We are excited to add these five facilities to our growing portfolio,” said Nate Paul, president and CEO. “We continue to find valuable opportunities to expand our platform and grow our national presence. As we expand further, market concentration will continue to be an emphasis in an effort to further operational efficiencies achieved in markets where we own and operate multiple assets.”
The transaction is WCCG’s third self-storage portfolio acquisition in less than a year. In that timeframe, the company has added 27 facilities comprising more than 15,000 units and 1.8 million square feet.
“Given the current state of the industry, we see a tremendous amount of opportunity for well-capitalized private operators,” said Jake Walker, vice president of acquisitions. “We have a long-term outlook for the platform, and will continue to be a significant acquirer of self-storage facilities nationwide.”
WCCG pursues investments in all U.S. markets, primarily focusing on real estate and private equity. In addition to self-storage, the firm’s portfolio includes office, retail, industrial, multi-family and land. Great Value Storage currently operates 38 self-storage facilities comprising more than 20,000 units and 2.8 million square feet.