Self Storage Equity Financing

[Michael Burrows]

About a year ago, my brother and I inherited a 5 self-storage facility, 3500 unit real estate portfolio from our father. For the past year, we have managed the transition well enough to achieve 8% rental rate growth. We believe that our business is well-run: we have an in-house call center to generate greater sales, have have good revenue management policies for raising rents, we sell insurance, have a great website and access to sales leads, our managers are professional and well trained, and our facilities are clean.

We are now seeking opportunities to expand. I would like to set up a Joint Venture fund to acquire poorly manged properties and turn them around.

Where do I find JV opportunities to fund these acquisitions? Is it possible to find partners willing to provide 95% to 100% financing?