Buchanan Street Partners has launched a self-storage platform. Under the new platform, the firm plans to deploy $350 million to $500 million over the next five years in both acquisition and development, and it will target major metros in the Western United States. Feerooz Yacoobi has joined the firm as VP to lead the new platform.

"At Buchanan Street, we are focused on assets that we intend to hold for the long-term," Timothy Ballard, president and CEO at Buchanan Street Partners, tells GlobeSt.com. "Self-storage's combination of low capital costs and resiliency during economic downturns makes it an attractive asset class for Buchanan. Furthermore, self-storage remains a fragmented industry where opportunity continues to exist due to an abundance of assets that are held by private parties and less sophisticated owners. Historically, we've had exposure to the self-storage industry through our mortgage business and watched its performance over the last several years. We decided now was the time to pull the trigger, as our pool of investors favor low volatility cash flows and the asset type provides strong yield in today's economic environment compared other investment alternatives. The sector aligns with Buchanan Street's investment strategy."

Yacoobi joins the firm from William Warren Group / StorQuest Self Storage, where he was VP. "One of Buchanan's hallmarks is our people. Feerooz has not only made significant accomplishments in the development and acquisition of over 12,000 self-storage units, but he is also a perfect cultural fit for Buchanan," says Ballard. "He has demonstrated throughout his life the ability to achieve his goals whether they are professional, academic or personal. He is the kind of leader Buchanan seeks."