We evaluate each Georgia self-storage facility on durable cash flow first, then upside second. This approach is designed to reduce late-stage renegotiation.
The strategy emphasizes secondary Georgia markets where population growth, household formation, and manageable competitive supply support resilient self-storage demand.
Assets with underutilized land, occupancy inefficiencies, or pricing gaps receive priority. Expansion is phased only when local demand and underwriting support clear returns that account for real-world risk.
A Georgia facility showed strong recent NOI growth, but trailing collections were inconsistent and near-term expected repair and improvement costs were understated. We underwrote to stabilized collections, added reserves, and shared assumptions in writing before offer.
Because expectations were aligned early, there was no retrade during diligence.
We plan the transition to minimize disruption. Timing, tenant communication, and operational handoff are coordinated so the change is smooth and private.
