Today, Macquarie Asset Management ("MAM") announced the launch of Summerland Storage Partners, a self-storage platform with a strategy aimed at crafting a geographically diverse portfolio of self-storage assets, positioned strategically within key United States markets. The platform will be owned by a MAM-managed fund, alongside the management team.
The management team is composed of former executives from Life Storage, a leading self-storage real estate investment trust and management company, including:
- David Dodman, Chief Executive Officer and Co-Founder
- Jonathan Attea, Chief Investment Officer and Co-Founder
- Michael Rogers, Chief Operating Officer and Co-Founder
The management team collectively brings over 60 years of experience in the self-storage and finance sectors, including most recently at Life Storage.
Through its active asset management approach, MAM intends to leverage its experience in scaling specialist operators to assist Summerland Storage Partners in building partnerships with global institutions to capitalize on attractive opportunities in the sector. Summerland Storage Partners' launch includes an investment from one of Canada's largest pension investors in one of its ventures.
"Today's launch continues our history of building platforms globally in our high-conviction sectors," said Eric Wurtzebach, Head of Real Estate for MAM. "With deep expertise and experience, the Summerland Storage Partners team is well-equipped to not only grow their own portfolio but also to deliver attractive asset management solutions to external clients."
James Fogarty, Head of U.S. Real Estate for MAM, said, "We view the self-storage industry as a robust, recession-resistant sector with growth potential, driven by rising consumer demand and the trend toward smaller living spaces, which continues to outpace current supply. The sector is still highly fragmented and by setting up this well capitalized platform we can efficiently establish a meaningful foothold in the space."
"We intend to build a strong presence in the self-storage industry through shrewd acquisitions," said David Dodman, CEO of Summerland Storage Partners. "With our deep expertise and strategic investment from a MAM-managed fund, we are well-positioned for success and excited to pursue what we believe is a strong opportunity in the market."
About Summerland Storage Partners
Summerland Storage Partners is a New York-based self-storage platform dedicated to assembling a market-leading self-storage portfolio.
It is supported in this goal through a strategic investment from a fund managed by MAM. MAM's differentiated real estate strategy focuses on investing into and partnering with specialist operating platforms. Through this strategic investment and MAM's active asset management approach, Summerland Storage Partners is able to leverage MAM's deep resources and expertise.
Summerland Storage Partners' highly experienced team invests to build a geographically diverse portfolio of high-performing self-storage assets, strategically located in major markets across the United States.
