Storage Post Raises $500M of Growth Capital via Almanac Realty Investors
Atlanta-based self storage specialist Storage Post, whose properties are located mainly in the New York area, recently reached an agreement with a fund sponsored by Almanac Realty Investors, a business unit of Neuberger Berman, to provide up to $500 million of capital to further the Storage Post growth strategy.
The capital will allow Storage Post to accelerate its platform investment strategy of acquiring self-storage assets in the most attractive markets in the United States.
Led by CEO Bruce Roch, the Storage Post management team has been a leader in the self-storage market for over 30 years. Storage Post will partner with Almanac to build a diversified, institutional-quality portfolio of self-storage assets throughout the country.
“Our partnership with a world class investor like Almanac combines capital, strategic guidance, and industry expertise making us the preferred buyer in the self-storage acquisition space,” said Dylan Delaune, Storage Post COO/CIO.
“The principals of Storage Post have a 30-year track record of acquiring, developing, and managing self-storage facilities. The business is vertically-integrated with significant operating and technology capabilities and as such, we believe it to be well positioned to achieve meaningful scale in the storage sector,” said David Haltiner, Managing Director at New York-based Almanac.
A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.