VanWest Partners acquires five-property portfolio in Michigan
VanWest Partners, an opportunistic investment firm specializing in commercial real estate acquisition, management and sales, has acquired five self-storage facilities via its newest fund, VanWest Self Storage Fund II.
Year to date, the firm has closed on a total of seven self-storage facilities representing just under $30 million in total capitalization.
The five-property Michigan portfolio was closed in mid-March and includes two self-storage facilities in the greater Detroit market and three self-storage facilities in the Grand Rapids market. The portfolio totals just over 265,000 net rental square feet and 1,628 units, including 232 boat and RV parking spaces.
VanWest plans to rebrand the five facilities under its ClearHome Self Storage management platform. By leveraging technology 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 t