The high cost and complexity of the firm's proprietary, relationship-driven acquisition model may be difficult to scale indefinitely.
Potential for increased competition as more institutional capital recognizes the attractiveness of the self-storage asset class.
The challenge of managing a large, distributed workforce of nearly 800 employees across 350 assets.
Opportunities Identified
Continued consolidation of the fragmented self-storage market, which is still largely owned by 'mom and pop' operators.
Leveraging proprietary technology, like their AI sourcing platform and new smart locks, to create operational efficiencies and a superior customer experience.
The defensive nature of self-storage provides resilience against economic downturns, driven by life events like death, divorce, and downsizing.