Maya Capital Partners' "Drive Up Storage" brand is gaining interest and a new investment partner.
Newmark arranged a $300 million joint venture between Maya and Artemis Real Estate, focused on creating a diverse portfolio of high-quality value-add self-storage assets in the Northeast.
"Drive Up Storage" is a tech-forward operating system with remote management and deep data analytic capacity that uses an on-site, kiosk-driven customer interaction and interfacing.
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The venture was seeded by the acquisition of a 1,120-unit Class A self-storage asset in New Rochelle, N.Y. It will utilize Maya's existing "Drive Up Storage" brand, a tech-forward operating system.
The initiative is part of Newmark's continued push into complex joint venture financing, according to a release.
Capital Available for 'Unique Business Plans'
The Newmark team was led by Vice Chairmen and Co-Heads of the Debt & Structured Finance team Dustin Stolly and Jordan Roeschlaub.
Stolly said in prepared remarks that the opportunity was 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."
Roeschlaub said in prepared remarks, "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."
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