LaTerra Development LLC, a Los Angeles-based real estate development and investment company, has hired Bryan Miranda as managing director of LaTerra Storage to lead the expansion of the company’s self-storage portfolio. Miranda most recently worked for real estate investment trust Public Storage Inc., where he served as western regional vice president and oversaw development in the western states, according to a press release.
In his 10 years with Public Storage, Miranda completed more than $1 billion in self-storage development projects, the release stated. “It’s possible Bryan has developed more self-storage than anyone on the planet,” said Chris Tourtellotte, managing director for LaTerra Development. “We look forward to his leadership in creating a preeminent self-storage company with us. In addition to building ground-up storage facilities, we anticipate growing new investment vehicles, such as value-add and build-to-core.”
Miranda was previously senior vice president with LNR Property Corp., where he acquired and developed real estate projects across multiple states. He began his career with accounting firm Coopers & Lybrand, which is now PriceWaterhouseCoopers. He’s a graduate of Loyola Marymount University, with a degree in in accounting.
LaTerra launched its self-storage development platform last year and formed a joint venture with a fund managed by Macquarie Asset Management to pursue ground-up construction in Southern California. It now has five projects underway in the Los Angeles metropolitan area and one in Irving, Texas. Together with its general-contractor affiliate, LT Building Corp., the company also has more than 3,000 multi-family units and more than 1 million square feet of commercial space in various stages of development, according to the release.
Macquarie is a global asset manager that works with government, individuals, institutions and pension funds, and offers investment expertise across several areas including agriculture and natural assets, asset finance, equities, infrastructure and renewables, private credit, and real estate. Its real estate division has approximately $15.7 billion of assets under management.
