Elite Stor Capital Partners LLC (ESCP), an equity investor focused on the self-storage industry, recently acquired Storage Max in Nicholasville, Ky., and will rebrand it as Storage Rentals of America. ESCP now owns and operates more than 850,000 square feet of storage space across 26 facilities in Florida, Kentucky and Ohio, according to a press release.
The property at 137 Imperial way encompasses 110,000 square feet of storage space in 857 units, 175 of which offer climate control. The facility is 11 miles southwest of downtown Lexington, off U.S. Highway 27. Property features include 24-hour gate access, onsite management, video cameras and vehicle parking.
“This property is plug-and-play for our accretive aggregation strategy in this market, allowing us to further utilize our Kentucky-based call center and increase economies of scale, further driving cash-on-cash returns to our investors,” said CEO Benjamin Macfarland, who led the acquisition with Don Toler, chief operating officer.
ESCP is a real estate investment company focused on the acquisition of self-storage properties as well as direct-equity investments with developers and operators. An affiliate of Calidus Holdings LLC, it has acquired or developed approximately $75 million worth of self-storage assets.