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February 7, 2024

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Real estate firms Madison Capital Group and SLI Capital have purchased a controlling interest in GreenSpace Self Storage LLC, a development and construction company that uses stacked shipping containers as the foundation for its projects. The deal closed on Feb. 2. GreenSpace Principals and Founders David Ledoux and Rick Stockton will continue to be involved in the company's management, according to a press release.

“We found the perfect partners in SLI and Madison. Their principals bring the capital markets knowledge and operations experience we needed to take our self-storage concept to new heights,” Ledoux said.

Founded in 2015, GreenSpace holds European and U.S. patents for its technology used to build multi-story self-storage facilities. It completed two projects in Houston and Pearland, Texas.

“We believe that the GreenSpace technology provides profound innovation in the self-storage space, and the investment alongside SLI Capital will provide the growth capital and operational expertise needed to take GreenSpace to the next level,” said Madison Capital CEO Ryan Hanks.

“Our goal is to grow the company rapidly due to its advantage in construction speed and superior basis while the balance of the traditional self-storage market is soft,” said SLI CEO Bryan Kane. “Through partnering with the Madison Capital team, we will have immediate operating expertise and scale, enabling us to ramp up quickly.”

Founded in 2017 and based in Raleigh, North Carolina, SLI is an investment and development firm that has invested in projects with a total expected capitalization in excess of $1.5 billion.

Based in Charlotte, North Carolina, Madison Capital is a real estate investment and development firm with a primary focus in multi-family and self-storage under its subsidiary Go Store It Self Storage.

Source: Access Wire, SLI Capital and Madison Capital Announce Deal to Purchase Controlling Interest in Green Space Self-Storage Company

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