SpareBox Storage Acquires 28 Stabilized Self Storage Properties in Michigan and Ohio
Summary
Steve Treadwell, CEO of SpareBox Storage noted, “We are incredibly proud to complete our largest acquisition to date, with the addition of 28 properties in thriving midwestern markets. “The strength of the portfolio, given the quality of well-maintained assets and immediate cash flow, created an attractive investment opportunity that will provide consistent revenue growth for many years. Rizk Ventures has built operating platforms in the real estate space across a number of sectors both in the United States and Latin America. Founded by Thomas A. Rizk, the firm has over 30 years of experience in real estate and currently owns and operates commercial and healthcare properties across Pennsylvania, New Hampshire, Michigan, Ohio, Minnesota, Arizona, Texas, Oklahoma, Arkansas, South Carolina, and Florida, as well as the country of Colombia, totaling over 15 million square feet. The group provides clients with a single-source solution for every phase of a self-storage transaction, from strategic planning, value enhancement, pre-marketing consulting and operations analysis to dispositions, debt placement, proprietary lending and equity assignments.