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Barings, Canvass Capital announce $250m self-storage JV
Investors - MAY 20, 2022

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Barings, Canvass Capital announce $250m self-storage JV

by Andrea Zander

Barings has entered into a joint-venture agreement with real estate investment management firm Canvass Capital to acquire and develop self-storage properties throughout the Southeastern United States. The joint venture seeks to invest up to $250 million of equity into the self-storage space over the next several years.

Barings and Canvass closed on the acquisition of three self-storage assets in the Lake Norman region, north of Charlotte, N.C., comprising multiple buildings totaling 1,129 units across 163,000 rentable square feet on more than 16 acres. Plans for the portfolio include the select expansion of additional climate-controlled buildings, covered RV and boat storage, and various capital, technological and sustainability focused improvements.

The joint venture also has acquired a 3.82-acre site in Hilton Head, S.C., for the development of a new self-storage facility, with plans to break ground this fall on two buildings containing a combined 1,231 self-storage

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