AUSTIN, TX-Virtus Real Estate has kicked off an $100 millionfund focusing on self-storage. The fund is the private equityfirm’s fourth fund to focus on the self-storage sector and itslargest self-storage fund to date.
Virtus acquires properties alongside strong operating partners,paying cash for the assets and then placing debt on them later on.The new self-storage fund will add $300 million to $450 million inassets to the company’s existing portfolio, which consists of 118properties with an acquisition price of more than $1.5 billion.
It will invest in self-storage properties primarily in theSunbelt, as well as select markets in other regions; it will alsoprovide senior and mezzanine financing to self-storage owners.
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