San Francisco commits $75m to self-storage fund

The $21.4 billion San Francisco Employees’ Retirement System has committed $75 million to a prime self-storage fund managed by Crow Holdings Capital Partners, according to Art Wang, managing director of private markets for the pension fund.

The closed-end Crow Holdings Self-Storage Fund will primarily invest in class A and class B self-storage facilities throughout the United States. The fund launched in early 2017.

Crow Holdings focuses on the acquisition, development and redevelopment of facilities with a minimum of 50,000 net rentable square feet, with the specific goal of creating value by rental rate growth and capital appreciation.

Underlying demand for storage space continues to strengthen as healthy job growth, rising wages and the formation of new households support the need for self-storage, according to Marcus & Millichap’s National Self Storage Research Report