Madison Capital Group LLC, which operates the Go Store It self-storage brand and specializes in converting large retail spaces into multi-family housing and storage space, has launched BlueGate Boat and RV Storage. The affiliate venture will focus on acquiring and developing vehicle-storage facilities in the Sunbelt, with plans to deploy more than $100 million of capital next year, according to a press release.
Thus far, BlueGate has more than 10 deals in its pipeline, including Florida, North Carolina and Tennessee. Its facilities will specialize in boat/RV storage but accommodate other vehicle types. The venture is led by Neil Dyer in Madison’s Nashville, Tennessee, office, the release stated.
Madison launched Go Store It in 2013. In June, the company partnered with private-equity firm FrontRange Capital Partners to expand its footprint in the Sunbelt. FrontRange will provide Madison $75 million in capital to help accelerate growth, company officials said.
Headquartered in Charlotte, North Carolina, Madison is a vertically integrated real estate investment firm that acquires, develops, operates and owns suburban multi-family properties and self-storage facilities in 13 states. It has more than 2,000 apartment units under development or in planning, and owns more than 60 self-storage assets under the Go Store It brand name.
KKCO 11 News, Madison Capital Group LLC Announces New Affiliate: BlueGate Boat and RV Storage