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Real Estate - OCTOBER 15, 2020

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Bill Gates’ Cascade Investment buys stakes in StorageMart

by Andrea Zander

Cascade Investment, controlled by Bill Gates, and managed by Michael Larson, has become an investor in StorageMart, the largest privately owned self-storage company in the world.

The transaction values StorageMart at an enterprise value of approximately $2.7 billion.

The company’s day-to-day management will continue to be led by Cris Burnam, serving as CEO; Mike Burnam, as president and CIO; and Ryan McKenzie, as CFO.

StorageMart, founded by the Burnam Family, owns and operates stores located throughout the United States, Canada and the United Kingdom. The company is a vertically integrated platform that owns, operates and develops self-storage properties throughout the world.

Cris Burnam, said, “Mr. Kroenke’s leadership and support has allowed the company to achieve remarkable success. The self-storage sector is rapidly evolving, and companies that can deploy technology, enhanced operations, and a truly memorable customer experience are going to o

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