All Forum Posts by: Barry Dameshek

@Ali Jamal Good evening. If you want to PM me I may have a couple of ideas for you.

@Kyle excellent post with a helpful list of questions. Unfortunately, I’ve found some sponsors get agitated when too many questions come their way. It’s almost as if their expectation is no deep dive will be done by investors or they’d prefer those who are less inquisitive. It can be frustrating as an investor. It would be very beneficial to see more posts like this one.

@John Brennan, thank you I will do so.

@Ian Ippolito, sounds good. Thanks.

@Ian Ippolito Hi Ian. I read your response earlier to Farshan. If you can message me with the same sponsor information it would be greatly appreciated. Thanks.

@Trevor Ewen Thanks. I know the asset class has considerable appeal for several reasons and that’s why I’m interested. What I’ve really been trying to find out from this post is if BP investors have had success with syndicated deals in this vertical and if so, with which sponsors and what have typical returns been.

@Taylor L. Makes perfect sense. Thank you for your comments.

@Charles Kao Thank you for your insight. I was told the principals are required to guaranty the loan but of course this leads to another question: how can that be verified?? I suppose I can request a copy of the loan docs but this is a perfect example of how vetting and finding out some of the granular details can be very challenging.

I've mostly been an investor in multi-family and would like to enter the self-storage arena. I'm considering a private placement / syndicated deal since I don't really have the time to actively manage or oversee a project right now. I am interested to hear from those who have any knowledge syndicated deals in the self-storage space and if you are aware of any reputable operators who have exhibited solid returns for investors. I've invested in PP's in multifamily so I know it's imperative to trust the sponsor as an operator. I'm looking at a deal right now for one with the 27th largest SS operator in the country. The deal involves 10 properties with a $30MM raise from investors. Projected returns in years 1 & 2 are 4% & 6% respectively while the properties are enhanced and occupancy is increased. The preferred return for investors is 8% cash on cash and a projected 16% IRR post sale / exit, with an estimated hold of 6 years (though it sounds like historically this sponsor sells or refinances within roughly 3.5 years).