May 24, 2023
Store Space Announces Joint Venture Partnership With Storage Point CapitalReturn to Media
Storage Point Capital and Store Space Self Storage have announced their agreement to enter into a joint venture for the origination and acquisition of select opportunistic self-storage properties.
The programmatic joint venture will first concentrate on deploying Storage Point Capital’s feeder fund, with a long-term goal of continuing to build onto the partnership.
“We want to be a conduit to help Store Space reach its goal of 500 facilities nationwide,” said Storage Point Capital Co-Founder and CEO Matthew Horne.
Current economic conditions haven’t dissuaded Storage Point Capital from entering the self-storage market, even with higher debt costs and the reluctance of some owners to sell.
“When you have an economic climate like this it creates opportunity, and we think it’s only going to multiply over the next six months to a year,” said Storage Point Capital Co-Founder and Managing Partner Tom Bury. “Buyers should be able to find a lot of opportunities within this environment.”
Horne and Bury founded Storage Point Capital in December of 2022. Horne knew Consalvo from his nearly four years in acquisitions for Philadelphia-based City Line Capital. It wasn’t long until the two companies found an opportunity for partnership, Horne said.
“It's really a perfect match, where we can focus on driving the volume of deals and Store Space can take it to the finish line and manage the facilities at the highest level,” Horne said. “The beauty of this relationship is we're both positioned to really excel at what we're great at.”
Read more at the press releases below.
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