Spartan Investment is planning to raise $150m (€129.6m) to invest in value-add self-storage facilities in the US.

The manager said Spartan Storage Fund 1 will fund and acquire $400m worth of self-storage facilities as it targets a cash-on-cash return of 15-20%.

Scott Lewis, co-founder and CEO of Spartan Investment, said: “The self-storage industry has been experiencing significant growth over the last couple of years, supercharged by the pandemic, and captured the attention of investors who want to diversify their portfolio.

“Spartan lives and breathes the self-storage industry. We believe there is truly no better company to trust with your alternative investments in this arena than our team. Spartan Storage Fund 1 is sure to be a game-changer for those interested in alternative investments in the continuously growing self-storage real estate asset class.”

Ryan Gibson, co-founder and CIO of Spartan Investment, said: “The fund isn’t changing how we invest in self-storage real estate, it’s providing a more efficient vehicle with a better experience and potentially stronger returns for our investors that will allow our team to do what we do best, better.”

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