Elite Stor Capital Partners closes on 26th property for its Storage Rentals of America brand now exceeding 1.2 million square feet across their portfolio
WEST PALM BEACH, Florida, Aug. 24, 2015 /PRNewswire/ -- West Palm Beach-based Elite Stor Capital Partners (ESCP) announced it has closed on the purchase of Storage Max in Nicholasville, Kentucky. The 110,000 square foot self-storage facility is located 11 miles southwest of downtown Lexington off US Highway 27.
Logo - http://photos.prnewswire.com/prnh/20150824/260560LOGO
The facility will be rebranded and become the newest addition to the Storage Rentals of America brand. ESCP now owns and operates over 850,000 square feet across 26 self-storage facilities in the region.
The 90 percent-occupied facility consists of 857 units including 175 climate controlled units. The property has fully-integrated amenities including 24 hour gate access, recorded video surveillance, climate and non-climate controlled units, on-site management, and RV, boat, and vehicle parking.
The ESCP self-storage acquisition was led by CEO, Benjamin Macfarland and COO, Don Toler.
"This property is plug and play for our accretive aggregation strategy in this market allowing us to further utilize our Kentucky based call center and increase economies of scale, further driving cash on cash returns to our investors," said Macfarland.
About Elite Stor Capital Partners
Elite Stor Capital Partners is a real estate investment company focused on the acquisition of self-storage properties as well as direct equity investments with developers and operators across the country that have a proven track record in self-storage.
CONTACT INFO
More information can be found at www.elitestorcapitalpartners.com
Share this article