A $1,000,000 search fund to acquire and run self-storage facilities across metro Detroit & the Southwest US. Two operators, three sites in redevelopment, nine more to go.
Acquire, improve, then run for cash flow. All three sites are in redevelopment today.
A repaved lot converting to fenced RV storage and U-Haul truck rental.
Left: current site. Right: concept rendering of the finished property.
Storage units plus a mailbox and package counter as a second income line.
Left: current site. Right: concept rendering of the finished property.
A vacant, fenced lot being converted into a gated facility with an on-site office and drive-up units.
Left: current site. Right: concept rendering of the finished property.
Indicative, not exhaustive. We look outside these ranges when the situation warrants it — and we answer quickly either way.
Net rentable, not lot size. A single small building counts; so does a multi-building site.
Single facilities and small portfolios. Below the low end, we'll still look if the numbers work; above the high end, institutional buyers are already bidding.
Trailing twelve months of real collections, not a pro forma. We buy operating facilities, not lease-up plays.
Stabilized or close to it. A gap between physical and economic occupancy isn't a problem — it's usually why we're interested.
Metro Detroit and its suburbs, plus select Southwest US markets, close to rooftops. We're building density in two target regions, not chasing deals nationwide.
Below-market rates, no online rental, weak security, or land to expand on. Deferred maintenance is fine — the improvement budget already assumes it.
Vacant and underused lots at 0% occupancy, if the location is strong enough to justify ground-up development. A key intersection, a dense residential radius, or a corridor without existing storage nearby can outweigh having no operating history at all.
This raise funds the next nine acquisitions, not the first three.
Already funded and in redevelopment.
Committed for new acquisitions only.
Same operators, across Detroit and the Southwest.
One operator, two regions, twelve facilities.
No third-party manager. Robert and Art find the deals, close them, and run the sites.
Sourcing, underwriting, and closing.
Day-to-day operations and improvements.
Robert or Art will follow up directly with the memo and current pipeline.
