Pogoda Cos., a Farmington Hills, Mich.-based self-storage operator that also provides third-party management services, has launched an “aggressive growth campaign” to expand its existing portfolio in Michigan and Ohio and possibly other states. The initiative is spearheaded by Adam Pogoda, who was recently hired as director of acquisitions, according to a press release.
Since January, the company has closed on one property and has multiple deals under contract that are expected to close during the first half of the year, the release stated.
Adam Pogoda joins the firm from New York City-based East End Capital, a private-equity real estate company. As vice president, he was responsible for finding and sourcing acquisitions in the metropolitan area, and assessed more than 300 deals per year, facilitating the purchase of $1.5 billion of properties. He specializes in structuring deals, discovering value-add potential within properties and finding operational deficiencies, the release stated.
“The strong reputation built by Pogoda Cos. over the last 30 years has given me the platform and network to put my 10-plus years of experience in real estate to work in identifying and sourcing strategic acquisition targets,” Adam Pogoda said. “We are well-positioned to take advantage of the more favorable pricing that we have been seeing in the market, and we have been making aggressive, all-cash offers, which have served us well in getting sellers’ attention and giving us a competitive advantage.”
Based in Farmington Hills, Mich., Pogoda Cos. is a self-storage operator with approximately 2 million square feet of self-storage space in Michigan and Ohio. The firm also provides brokerage, consulting, investment and management services to the self-storage industry through Pogoda Group Inc. and Pogoda Management Co.