Case Study

Tampa Bay Self-Storage Portfolio

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Seller Profile

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Buyer Profile

Private Investment & asset management capital
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Property Profile

Two-facility portfolio which boasted high occupancies of 93 percent combined. Assets offered significant upside to raise rates to meet the market in a self-storage desert with limited options and no development planned or underway within five miles

The Story

  • Owners wanted to exit a complex partnership
  • The property was mismanaged and became a challenge
  • Many DIY components of the facility for capex versus professional upgrades
  • Seller engaged with SkyView after receiving a direct offer from a private, institutional self-storage company that managed the facility
  • SkyView honed-in on the robust marketing campaign that focused on overlooked upsides such as collecting rent from apartments and conversion of existing workshop units, among several other value-add components
  • Competitive call for offers generated 14 offers, including an enhanced offer from the same company that proposed a direct offer

Value Creation

SVA’s hands-on approach allowed the partners to benefit from a stress-free transition of the asset’s disposition and yielded a substantial, life-changing price increase from the initial direct offer that prompted the partners to reach out to SVA. SVA’s team was ready to tackle all hurdles in the way of closing with directness and an assertive disposition.

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