Fund: VanWest Self Storage Fund I
Unit Count: ~280
NRSF: ~86k
Projected IRR: Mid-to-high teens
StorMor was purchased in November of 2019. The asset was undermanaged with non-existent ancillary revenue streams (tenant insurance, administration fees, late fees, etc.) or marketing allowing for our professional management platform to come in and immediately add value.
Upon purchase, VanWest Partners implemented several ancillary revenue streams, rate management, increased marketing, and expanded the facility with 60 additional RV and boat spaces.
As of February 2022, the facility has seen revenue grow by over 80%.
