The Denver-based real estate investment firm adds to fund portfolio
DENVER–(BUSINESS WIRE)–VanWest Partners announces a new storage fund asset to its growing VanWest Storage Fund I, LLC with the acquisition of Marsh Harbor Self-Storage facility in Mary Esther, Florida. VanWest Storage Fund I, LLC was established in the second quarter of 2019 to increase investor wealth through local, alternative real estate investment strategies in self-storage.
Marsh Harbor Self-Storage facility was acquired on September 11, 2019. The facility is located 25 miles east of Pensacola, Florida, at 2193 W Highway 98 in Mary Esther. The Marsh Harbor facility was built in 2007, and currently there are 128 storage units within 12 buildings, totaling 28,800 square feet. VanWest plans to create a more efficient unit mix by demising some of the larger unit types, and rebrand the facility under its ClearHome Self Storage management platform.
VanWest aggressively targets under-valued or distressed assets that it can reposition or redevelop to create value and impact for its investors and partners.
“With the Fund already owning and operating a facility less than a mile to the west, the acquisition of Marsh Harbor will be a strong addition to the Florida portfolio, giving us greater economies of scale and operational efficiencies in the submarket,” said Jacob Vanderslice, Managing Partner of VanWest.
Marsh Harbor is the latest acquisition for VanWest Storage Fund I, LLC which also includes ClearHome Self Storage locations in Pensacola and Mary Esther.
VanWest Partners and its affiliates have successfully invested in 15 self-storage projects totaling over 800,000 rentable square feet. Projects include multi-story ground-up development, adaptive reuse and value add to existing facilities.
About VanWest Partners
VanWest Partners is an opportunistic investment firm specializing in commercial and residential real estate within the United States. By harnessing a diversified strategy and uncovering value in often-overlooked markets, VanWest maximizes investment performance for its stakeholders while avoiding the traditional, single focus strategy of many investment companies. At VanWest, we reveal and maximize opportunity to make a positive and lasting impact. Learn more about VanWest at VanWestpartners.com or on LinkedIN.