Buchanan Street Partners launches self-storage platform
Buchanan Street Partners has launched a self-storage platform.
Under this new platform, Buchanan Street plans to deploy $350 million to $500 million over the next five years in both self-storage acquisition and development in major markets throughout the western United States.
“Self-storage has historically provided strong yields relative to other real estate. Now it continues to prove its resiliency as an asset class even during these turbulent economic times. We’re excited to add this alternative investment offering to Buchanan Street’s investors, especially as the demand for self-storage increases from a consumer standpoint,” said Feerooz Yacoobi, who joins Buchanan Street as vice president and will grow the initiative.
The firm’s focus will be on value-add and core-plus opportunities in the western U.S. trade areas that are experiencing strong population growth.
“Self-storage’s low correlation to the broader economy makes it an attractiv