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  • For sale
Assured Storage Portfolio - #1
Assured Storage Portfolio - #2
Assured Storage Portfolio - #3
Assured Storage Portfolio - #4
Assured Storage Portfolio - #5
Assured Storage Portfolio - #6
Assured Storage Portfolio - #7
Assured Storage Portfolio - #8
Assured Storage Portfolio - #9

For Sale

$145,100,000 USD

The Assured Storage Portfolio is comprised of 22 self-storage facilities that consist of a total of 8,112 units and over 1,022,714 nrsf of storage as well as 6,825 nrsf of retail.  The 22 locations provide dominant footprints in West, Middle and East Tennessee, while also having one-off locations in Decatur, Alabama and Charleston, South Carolina.  This portfolio currently boasts a blended physical occupancy of 85.6%, and a healthy 72.6% economic occupancy.   The current owner has achieved these occupancies while only spending $10,612 on advertising over the last 12 months portfolio-wide.  Improved revenue management is not the only value-add to this incredible portfolio.  Nine of the fifteen facilities have some form of expansion potential, providing numerous growth opportunities.

The Middle Tennessee region includes a total of six facilities that are prominently located in the cities of Gallatin, Murfreesboro, Hendersonville, Goodlettsville, Springfield and Clarksville.  The Clarksville facility has an annex that is located approximately .5 miles away.  The locations total 322,478 rsf split between 2,722 units, and four of the facilities have expansion capabilities.

The West Tennessee region includes 3 facilities located in Jackson, Tennessee.  The three locations are all located within a 10-minute drive of each other and are comprised of 1,912 units and 271,350 rsf.  Two locations have expansion capabilities included in the transaction.

The East Tennessee region includes facilities in Maryville, Knoxville, Powell (Knoxville) and Athens.  The Maryville facility operates with two satellite locations and the Athens facility operates with 3 satellite locations. The current East Tennessee footprint totals 342,434 nrsf and 2,691 units.  Additionally, three locations have the ability to be expanded.

Offered at $145,100,000, this portfolio provides a buyer with the extremely rare opportunity to acquire a 1M+ SF physically stabilized self-storage portfolio predominantly clustered within 3 highly desirable regions for just over $140 psf.  The purchaser will achieve a 6% cap rate in Year 2 simply through revenue management and improved operations.  While no expansion was modeled in the underwriting of this portfolio, it would be expected that most purchasers would begin construction on several expansion opportunities relatively quickly, further boosting the long-term yield of this portfolio.