Store Here LLC, a joint venture between property-management company Store Here Management LLC and affiliates of real estate investment firm Westport Capital Partners LLC, recently purchased a three-property self-storage portfolio in Kansas City and Shawnee, Kan. The portfolio will be managed by Store Here Self Storage Property Management, which is based in Orange, Calif.
The acquisition encompasses more than 269,000 rentable square feet of storage space and had an average economic occupancy of 90 percent at the time of the sale, according to a press release from the Argus Self Storage Sales Network, which brokered the transaction. Larry Goldman of RE/MAX Commercial represented the seller. Goldman is the Argus broker affiliate for Arkansas, Kansas, Missouri and South Illinois.
Last month, Store Here acquired 13 facilities in Georgia, Kansas and Texas for $48 million. The properties comprised of more than 855,000 rentable square feet in more than 6,100 units.
Westport Capital Partners provides domestic and international investment opportunities to institutional and private clients. The firm invests in a wide variety of real estate assets through its various funds. It has offices in Los Angeles, London and Wilton, Conn.
Store Here Management is a division of RHW Capital Management Group. Its acquisition and analysis division focuses on the self-storage industry. The Store Here portfolio of 20-plus facilities comprises more than 1.4 million rentable square feet. RHW plans to expand the brand through property acquisitions and management contracts, company officials said in a press release.
Argus is a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.