AVAD and Etude Capital Partner to Acquire Nine Self-Storage Facilities

AVAD Capital and Etude Capital have announced a strategic investment in the self-storage sector, acquiring a nine property self-storage portfolio from Extra Space Storage located in the Odessa and Midland, Texas markets.

The partnership will focus on acquiring value-add and opportunistic investments in the self-storage space, targeting fragmented markets, and leveraging the deep expertise of AVAD Capital’s wholly owned self-storage management company, Avid Storage, in managing a wide range of self-storage assets. The newly acquired facilities will benefit from Avid Storage’s operational platform, which emphasizes tenant experience, efficiency, and revenue optimization.

"Our new partnership and investment align perfectly with AVAD Capital’s strategy of targeting growth markets with stable demand," said Tim Springer, Founding Partner of AVAD Capital. "By partnering with Etude Capital, we are bringing best-in-class management and operational expertise to a sector with strong tailwinds."

"We are delighted to partner with Tim, Jarrett, and the entire AVAD team on this investment” said Steven Stein, Chairman and CEO of Etude Capital. "AVAD shares our vision for identifying and executing on high-potential opportunities in self-storage."

The nine locations represent a significant step in enhancing the self-storage landscape in West Texas, catering to both residential and commercial customers in a rapidly growing region.

The transaction was advised by JLL Capital Markets, and the debt was co-originated by Goldman Sachs and 3650 Capital. The Dallas office of Kensington Vanguard coordinated title and closing.

About AVAD Capital

Based in Dallas, AVAD Capital is a commercial real estate investment company that targets multiple verticals, including self-storage, multi-family, and recreational real estate, through acquisition, development, and value-add expansion.

About Avid Storage

Avid Storage is a full-service self-storage management company known for its hands-on operational expertise and commitment to maximizing asset performance. Avid Storage manages approximately 23,000 units and 3.1 million square feet of rentable self-storage space in Texas and Florida.

About Etude Capital

Founded in 2012, Etude Capital is a private investment firm based in Austin. Its affiliated insurance and reinsurance businesses serve over 2,700 self-storage facilities nationwide and own over 2.8 million rentable square feet.