Flatirons Asset Administration acquired a 33-asset portfolio from Crimson Dot Storage. These amenities embrace a complete of 9,125 storage items, encompassing greater than 1.3 million rentable sq. ft.
The self-storage properties, situated in Alabama, Iowa, Illinois, Indiana, Missouri, Mississippi, Tennessee, and Wisconsin, will proceed to function underneath the Crimson Dot Storage model. The portfolio was 90% leased as of August 31.
Crimson Dot Storage present secure and easy storage options to prospects spanning greater than 190 places and 19 states with a deal with delivering an distinctive buyer expertise.
“This can be a nice alternative to accumulate a rigorously curated portfolio of among the finest self-storage property throughout the South and Midwest,” mentioned Scott Smith, Flatirons President and CEO. “Self-storage has proven itself to be a resilient asset class with engaging fundamentals and, given the current disruption brought on by the worldwide pandemic, much more persons are turning to self-storage. With the shift in consumption of self-storage towards youthful generations, the patron more and more values the low friction, contactless expertise that Crimson Dot pioneered. We’re excited to have acquired this portfolio and to work with an trade chief like Crimson Dot Storage.”
