AUSTIN, Texas--(BUSINESS WIRE)--World Class Capital Group, LLC (http://www.wccapitalgroup.com/), an Austin-based private investment and asset management firm, announced today that it has acquired a 12-property self-storage portfolio from publicly-traded REIT, Sovran Self Storage (NYSE: SSS). The portfolio includes over 8,000 units accounting for almost 1,000,000 square feet.
The acquisition of the assets, which are located in Houston and Dallas, Texas, represents one of the largest self-storage portfolios sold in the United States in 2012.
“We are excited to add this portfolio of well-located properties to our growing self-storage division,” said Nate Paul, President and CEO of World Class Capital Group. “This acquisition fits our investment strategy of acquiring value-add self-storage assets to operate under our Great Value Storage brand, which continues to grow its national presence.”
World Class has planned a multi-million dollar capital improvement project for the self-storage facilities. The investment firm will also rebrand the properties under its Great Value Storage flagship brand (http://www.greatvaluestorage.com/), a wholly-owned and operated subsidiary of World Class Capital Group.
“World Class was able to leverage its deep industry knowledge and proprietary operational platform in order to expeditiously close this transaction over two weeks earlier than our contractual closing date,” commented Jake Walker, Vice President of Acquisitions at World Class Capital Group. “Self-storage is an asset class we know extremely well and we continue to seek out additional opportunities to grow the Great Value Storage brand through both single-asset and portfolio acquisitions.”
About World Class Capital Group, LLC
World Class Capital Group, LLC is a leading private investment firm based in Austin, TX. The firm pursues opportunities in all U.S. markets and has a distinct focus on alternative investments, primarily real estate and private equity. Within its real estate platform, WCCG targets investments across a broad range of asset types through single-asset and portfolio acquisitions, and is also an active acquirer of real estate debt. WCCG’s primary focus is the acquisition of complex or undervalued real estate assets with the opportunity to create value through repositioning, redevelopment, or leveraging our exceptional property and asset management platform to create operational efficiencies. WCCG’s portfolio includes investments in office, retail, industrial, multifamily, self-storage, and land. Please visit our website for more information: www.wccapitalgroup.com
About Great Value Storage, LLC
Great Value Storage, a wholly owned and operated subsidiary of World Class Capital Group, LLC, currently operates 23 self-storage facilities containing over 12,500 units and over 1,500,000 square feet. Great Value has a commitment to quality, convenience and service, and strives to provide low-cost offerings and high-touch service for its customers. The company has an integrated national platform that increases asset profitability with operating and marketing cost efficiencies. Please visit our website for more information: www.greatvaluestorage.com