Investors’ thirst for self-storage facilities has taken them into secondary markets in the first half of 2015, as the sector continues to post high occupancy, improved leasing velocity and limited supply.
Private owners, which make up the bulk of the self-storage facility ownership, are reporting occupancy rates of 89 percent, according to Marc Boorstein, of MJ Partners, a real estate brokerage and investment banking firm based in Chicago. More impressively, the five major publicly-traded firms reached 92 percent occupancy on their thousands of units, Boorstein notes. Leasing is going gangbusters, he says.
Read entire article here in National Real Estate Investor.
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