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Public Storage has acquired All Storage’s portfolio for $1.5 billion.
The portfolio comprises 56 self-storage properties (or 7.5 million net rentable square feet) with 52 located in the growing Dallas-Fort Worth market and the rest in Oklahoma City and Killeen, Texas.
The Pandemic’s Disruption
Drew Dolan, Principal and Fund Manager, DXD Capital, tells GlobeSt, “Self storage has been the best performing asset class through the past three recessions. The diverse demand drivers and secular growth in the industry have further benefited from the disruption caused by the pandemic.
“We ended 2020 with record-high occupancies and pricing across the United States. The interest in the asset class from institutional capital has also increased significantly in the last year.”
New investors to the sector, including Bill Gates’s Cascade Investment Group, Blackstone, GIC and other large capital players, are driving additional interest in the space, Dolan said.
DXD Capital’s $50 million ground-up development fund was formed to capitalize on data-driven analytics “that allows unprecedented efficiency in evaluating investment opportunities,” Dolan said. “With the upward trend in rates and occupancies across the asset class, the next bull cycle in self-storage has arrived.”
When asked to comment on the sale, Caliber’s co-founder & CEO, Chris Loeffler responded, “This transaction offers a prime example of the consolidation trend occurring in storage assets and globally in all real estate asset classes. Investors seeking consistent, stable income in their retirement portfolios are the force behind this trend, as asset managers seek to maximize their operating results.”
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About Caliber
As the Wealth Development Company, we are a leading U.S. sponsor with approximately $500 million in assets under development and management. These investments are comprised of alternative investments, which include private funds and syndications, externally managed real estate investment trusts (REITs) as well as public funds. We conduct substantially all business through our Sponsor, CaliberCos Inc., a vertically integrated platform that is strengthened by more than 70 professionals with decades of institutional experience in commercial real estate, capital markets, alternative investments, and mergers and acquisitions.
We allocate our alternative investment strategies and align them with investors’ investment objectives, risk profiles and liquidity preferences to offer an optimal balance of risk-adjusted returns and attractive investment performance. It is because of this thoughtful, intentional approach, and our unwavering pursuit of performance, that we have been deemed The Wealth Development Company.
We strive to build wealth for investors by offering a diverse host of investment solutions that fit our investors’ needs. With a primary focus on key middle-market growth areas, such as Arizona, Colorado, Nevada, Texas, Utah and Alaska, we evaluate other U.S. markets that possess the same attractive demographics and macroeconomic trends as our targeted markets, such as highly skilled labor, emerging population and job growth. In addition, we utilize our institutional full-service operating platform to generate operating efficiencies while enhancing the value of our investments through dedicated asset management strategies.
We create value through a combination of internal and external growth channels. Bringing together the benefits of real estate, deep asset-class, and capital markets expertise across public and private investments. We seed, develop, and manage a broad range of liquid and illiquid alternative strategies for a diverse group of investors who comprise approximately a $4 trillion alternative investment market, which includes high net worth, accredited and qualified investors, as well as family offices and smaller institutions. This strategy allows us to opportunistically compete in an evolving middle-market arena for alternative investments that range between $5 million and $50 million.
Click here to see Caliber’s current property portfolio.
If you would like to speak to someone about diversifying your retirement accounts, contact us at [email protected] or call (480) 295-7600 to schedule a call with a member of our Wealth Development Team.
Investor Considerations
The information contained herein is general in nature and is not intended, and should not be construed, as accounting, financial, investment, legal, or tax advice, or opinion, in each instance provided by Caliber or any of its affiliates, agents, or representatives. The reader is cautioned that this material may not be applicable to, or suitable for, the reader’s specific circumstances, desires, needs, and requires consideration of all applicable facts and circumstances. The reader understands and acknowledges that, prior to taking any action relating to this material, the reader (i) has been encouraged to rely upon the advice of the reader’s accounting, financial, investment, legal, and tax advisers with respect to the accounting, financial, investment, legal, tax, and other considerations relating to this material, (ii) is not relying upon Caliber or any of its affiliates, agents, employees, managers, members, or representatives for accounting, financial, investment, legal, tax, or business advice, and (iii) has sought independent accounting, financial, investment, legal, tax, and business advice relating to this material. Caliber, and each of its affiliates, agents, employees, managers, members, and representatives assumes no obligation to inform the reader of any change in the law or other factors that could affect the information contained herein.