Artemis Real Estate Partners, Maya Capital Partners Form JV to Pursue Self-Storage Acquisitions

December 9, 2022

2 Min Read
Artemis Real Estate Partners, Maya Capital Partners Form JV to Pursue Self-Storage Acquisitions

Investment manager Artemis Real Estate Partners and real estate investment and development firm Maya Capital Partners have formed a $300 million joint venture (JV) to pursue value-add self-storage acquisitions in the Northeast. The companies kicked off the partnership with the purchase of a four-story, 96,693-square-foot facility in New Rochelle, New York, which was made at Certificate of Occupancy, according to a press release.

The JV is interested in listed properties as well as off-market deals. It’ll leverage Maya’s existing Drive-Up Storage brand and operational platform, which specializes in remote management and kiosk-drive customer interactions, the release stated.

The partnership was brought together by commercial real estate firm Newmark Group Inc. as part of an internal program targeting “complex joint-venture financing,” according to the release. The Newark team was led by Jordan Roeschlaub and Dustin Stolly, vice chairmen and co-heads of the company’s debt and structured finance group.

“Maya has great success in the self-storage space, and this new venture with Artemis will allow them to vastly expand their platform,” Roeschlaub said.

“This opportunity was extremely well-received by the capital-markets community, which speaks to the availability of capital for operators with unique business plans focused on aggregating alternative real estate assets,” Stolly added.

Based in Washington, D.C., Artemis also has offices in Atlanta, Los Angeles and New York City. The firm makes equity and debt investments in real estate nationwide, with a focus on business-office, hospitality, industrial, medical-office, multi-family, office, retail and senior-housing properties.

Founded in 2016 and based in New York City, Maya specializes in multi-family and self-storage acquisitions in the Northeast. It’s Drive-Up portfolio comprises facilities across Connecticut, New Jersey and New York.

Newmark is a full-service commercial real estate firm. It generated $3.1 billion in revenue during its 2022 fiscal year, which ended Sept. 30. It employs about 6,700 team members who operate from approximately 180 offices around the world.

Source: PR Newswire, Newmark Arranges $300 Million Self Storage Joint Venture With Maya Capital Partners and Artemis Real Estate Partners

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