Trico Investments, a real estate investment company specializing in value add self storage properties, has added another facility to its portfolio. The firm completed the purchase of an approximately 500-unit, two-story self storage property located at 701 S. Homestead Blvd. in Homestead, Florida. The three-acre property was built in 1986.
Trico completed the all-cash purchase from Homestead US 1 Self Storage LLC for an undisclosed amount. Trico plans to reposition the asset through its focused management and proprietary business plan.
According to Trico executives, the self storage industry is a strong sector, poised for
continued growth due to solid tenant demand and the opportunity for rising rents. Looking ahead to 2014, the firm will continue to target self storage assets for acquisition and repositioning located within California, Florida and Texas, as these are strong population centers.
Based in Irvine, CA, Trico Investments has developed and acquired approximately 100 self storage facilities. The firm targets infill properties within populated areas that have high barriers to entry.
For more information contact Kirt Boultinghouse at Trico Investments at (949) 313-6176 or kirt(at)tricoinvestments(dot)com
About Trico Capital Investments, Inc
Trico Capital Investments, Inc. Comprised of an experienced asset management team, specializing in value add self-storage properties, the Trico Capital Investments team has extensive experience in all aspects of land planning, project design, development and construction along with the successful entitlement and development of complicated sites that may be passed over by less qualified developers. For more information, please visit: https://tricoinvestments.com/