Self-Storage Attracts New Buyers
Buchanan Street Partners plans to spend $350 million to $500 million to buy and build in the sector.
November 3, 2020 | Bendix Anderson | National Real Estate Investor
New buyers are making big bets on self-storage properties—despite an uncertain economy distressed by the relentless spread of the coronavirus, as doctors diagnose new cases in record numbers.
“In the wake of the COVID-19 pandemic, self-storage has proven yet again to be a resilient asset class and a source of stable cash flow,” says Feerooz Yacoobi, a new vice president for Buchanan Street Partners, a real estate investment management firm based in Newport Beach, Calif.
Buchanan Street plans to spend $350 million to $500 million to buy and build self-storage properties over the next five years, according to an October 29 announcement. Yacoobi joined the firm to manage the new portfolio, leaving his old job at William Warren, one of the largest private owner operators of self-storage properties in the U.S.
