York RE Capital Partners expands presence In Florida with acquisition of two Class “A” facilities.
VENICE & NAPLES, FL, April 21, 2023 /24-7PressRelease/ — Ackerman & Co. has brokered the acquisition of two newly built, premium-class self-storage properties in Florida on behalf of buyer York RE Capital Partners: a 774-unit facility in Venice and an 896-unit facility in Naples. York RE Capital Partners purchased the self-storage properties from The Simpson Organization (TSO).
Ackerman & Co.’s David Paulson, Stephen Lapierre and Wyatt Whitaker represented York RE Capital Partners in the transaction.
“The Venice and Naples storage facilities are representative of the premium assets and prime locations that York RE Capital Partners targets for investment. With the continued migration into the state, there is extremely strong demand for self-storage in Florida. We’re excited to add these properties to our portfolio,” said Alex Meshechok, founder and President of York RE Capital Partners.
“These are high-quality additions to York RE Capital Partners’ self-storage portfolio,” said David Paulson, Senior Vice President for Ackerman & Co. “Surrounded by high-income housing, these Class A facilities are located in thriving retail areas in cities that are projected to continue experiencing strong population growth. Premium self-storage assets like these in highly desirable locations are prime investment opportunities due to continued robust demand for self-storage, fueled by positive demographic trends.”
The Venice property (2966 Executive Drive), which provides a prime location less than one mile from a full-diamond I-75 interchange, was extensively leased within weeks of opening. The Naples facility (5135 Tamiami Trail), positioned directly off of the thriving U.S. Highway 41 retail corridor, is centrally located in Naples and surrounded by densely populated housing communities.
York RE Capital Partners has an extensive portfolio of self-storage assets in markets stretching from the Southern U.S. to the Midwest and the Northeast. The company seeks high-visibility self-storage locations in growing markets, mainly in the top 100 metropolitan areas of the U.S.
The newly built facilities offer a wide mix of unit sizes and types, and feature air conditioning, state-of-the-art technical equipment and attractive architectural design consistent with the aesthetic of their respective surrounding communities.
About York RE Capital
York is one of the country’s preeminent investors/ asset managers in the self-storage industry. The combination of the company’s in-depth market knowledge, extensive industry-wide relationships and highly sophisticated underwriting expertise has allowed its principals to acquire more than 4 million square feet of storage assets, representing approximately $500 million in value since 2015. For more information, visit www.yorkrecapital.com
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than $2 billion of office, medical, industrial, retail and mixed-use space and has more than 4 million square feet under management, with a growing focus on self-storage investments. For more information, visit www.ackermanco.com
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