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Spartan Investment Group Launches 3 Funds for Self-Storage Acquisitions, Development and Debt

September 4, 2023

2 Min Read
Spartan Investment Group Launches 3 Funds for Self-Storage Acquisitions, Development and Debt

Update 9/4/23 – SIG will pursue three self-storage development projects through its $45 million Growth Fund. They include building a 550-unit facility on 4.63 acres in Belleview, Florida, as well as expansions in Kingsland, Georgia, and Pea Ridge, Arkansas, according to a press release.

The Kingsland project is at a newly constructed facility the fund recently purchased. The site comprises 30,000 rentable square feet in 333 units, and SIG intends to add 20,000 square feet. The Pead Ridge expansion will add 27,000 square feet to an existing FreeUp location the company has owned for 3.5 years.

“At a time when it is challenging to secure loans, find equity or fund new construction, we’re forging ahead in a strategic direction with our deals,” Gibson said. “We are thrilled to add these three deals to our Growth Fund portfolio, as they are all in fast-growing markets with the opportunity to add value and, thus, develop strong returns for our investors.”

2/27/23 – Spartan Investment Group LLC (SIG), a self-storage development, property-management and real estate firm that operates the FreeUp Storage brand, will launch three investment funds in March to pursue acquisition, development and debt opportunities nationwide. The funds are open to accredited investors with a minimum investment of $50,000, according to a press release.

The Spartan Storage Income Fund is a $75 million equity fund focused on value-add acquisitions, while the Spartan Storage Growth Fund is a $45 million equity fund that’ll target ground-up development and lease-up investment opportunities. At $64 million, the Spartan Storage Debt Fund will offer notes for SIG projects, providing funds for ground-up, lease-up and value-add opportunities under Spartan control, the release stated.

“We’re thrilled to launch our next series of self storage investment funds for accredited investors looking for passive investing opportunities that are fit for their specific wealth goals,” said Ryan Gibson, chief investment officer. “There is a fund option for every investor persona. Whether you’re just starting out on your passive investing journey or a veteran investor with an established portfolio, the self-storage industry continues to be a strong bet to build wealth.”

Though the funds won’t launch until next month, a waiting list is open. Those who invest within the first 45 days will receive “elevated investor positioning or a higher share class,” according to the release.

Founded in 2014 and based in Golden, Colorado, SIG syndicates investor capital to develop real estate. Its network of 9,000-plus investors has raised more than $250 million to amass a self-storage portfolio of about 60 facilities nationwide. The company also has interests in luxury condos and RV parks.

Source: PR Newswire, Spartan Investment Group Launches Three New Self-Storage Funds

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