Store Space Forms Join Venture with Storage Point Capital to Pursue Self-Storage Acquisitions

Store Space Self Storage, which operates more than 100 facilities, has entered a joint-venture agreement with real estate investment firm Storage Point Capital to pursue acquisitions. The partnership includes the deployment of a Storage Point feeder-fund investment vehicle, according to a press release.

“As Store Space continues to expand, this partnership will help maintain and create a robust acquisition pipeline,” said Rob Consalvo, co-founder and president of Store Space. “Storage Point Capital brings an expertise in finding off-market opportunities, and based on the history of success their founders have had in other ventures, we are confident this new venture will be very successful.”

“We want to be a conduit to help Store Space reach its goal of 500 facilities nationwide,” said Matthew Horne, co-founder and CEO of Storage Point.

The companies believe current economic conditions will create advantageous investment opportunities in the self-storage sector. “When you have an economic climate like this, it creates opportunity, and we think it’s only going to multiply over the next six months to a year,” said Tom Bury , co-founder and managing partner for Storage Point. “Buyers should be able to find a lot of opportunities within this environment.”

Launched in December and based in Sarasota, Florida, Storage Point specializes in the acquisition, development and management of self-storage properties nationwide. It provides opportunities for investors looking for a passive approach to ownership and investment.

Based in Winter Garden, Florida, the Store Space family of companies owns, operates and third-party manages properties in 22 states.

Source: StreetInsider, Store Space Announces Joint Venture Partnership With Storage Point Capital