Flatirons Asset Management acquires 33 self-storage properties from Red Dot Storage

Flatirons Asset Management, a private investment firm specializing in the sponsorship of tax-advantaged real estate offerings, has announced the acquisition of a 33-asset portfolio from Red Dot Storage, an operator of self-storage properties in the United States.

The financial terms were not disclosed.

These facilities include a total of 9,125 storage units, encompassing in excess of 1.3 million rentable square feet.

The self-storage properties — located in Alabama, Iowa, Illinois, Indiana, Missouri, Mississippi, Tennessee and Wisconsin — will continue to operate under the Red Dot Storage brand. The portfolio was 90 percent leased August 2022.

“This is a great opportunity to acquire a carefully curated portfolio of some of the best self-storage assets across the South and Midwest,” said Scott Smith, Flatirons president and CEO. “Self-storage has shown itself to be a resilient asset class with attractive fundamentals and, given the recent disrupt