Maya Capital Partners and Artemis Real Estate Partners have linked up to create a US value-add self-storage investment venture and acquired a 96,693sqft facility in New York as the partnership’s seed asset.
Real estate services firm Newmark which has arranged the $300m (€288m) programmatic joint venture, said the partnership would focus on “high-quality value-add self-storage assets” in the northeastern US.
Newmark said the venture’s seed asset, acquired for an undisclosed sum, is a 1,120-unit, class-A self-storage asset in New Rochelle.
Jordan Roeschlaub, vice chairman and co-head of Newmark’s debt and structured finance team, said: “Maya has great success in the self-storage space and this new venture with Artemis will allow them to vastly expand their platform as they grow to become one of the preeminent storage operators in the region.”
Dustin Stolly, co-vice chairman and co-head of Newmark’s debt and structured finance team, said: “This opportunity was extremely well received by the capital markets community which speaks to the availability of capital for operators with unique business plans focused on aggregating alternative real estate assets.”
New York City-based Maya, is a real estate investment firm established in 2016. The company is focused on acquiring multifamily and self-storage assets in strong markets throughout the northeastern US.
Investment manager Artemis makes equity and debt investments in real estate across the US, focusing on multifamily, industrial, office, retail, hospitality, senior housing and medical office.
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