VanWest Partners has acquired two self-storage facilities on behalf of its newest fund, VanWest Self Storage Fund II.
The purchase of the two-property North Carolina portfolio closed in late June and comprises self-storage facilities in Shelby, N.C., and Hickory, N.C. The portfolio totals 219,000 net rental square feet and 1,570 units including 127 boat and RV parking spaces.
VanWest plans to rebrand the facilities under its ClearHome Self Storage management platform. By leveraging technology coupled with an active, hands-on management approach, ClearHome will drive net operating income by optimizing expense loads and dynamically managing revenue streams. With the addition of the North Carolina acquisition, VanWest now owns and operates self-storage facilities in eight states and 12 metro areas nationwide.
VanWest Self Storage Fund II has acquired nine storage facilities within select target markets within the United States. The fund is designed to provide an in
