Oak Brook, Illinois-based Inland Private Capital Corp. and Devon Self Storage formed a partnership to redevelop and operate self-storage properties in qualified opportunity zones across the nation. IPC has already built up its self-storage portfolio to more than $740M in assets under management, with 59,000 units in 124 properties across 15 states. Devon manages a significant portion of this portfolio.
Devon has owned, developed and managed more than 180 facilities in 24 states and three European countries. It has been involved in more than $2.5B in self-storage transactions, partnering with several institutional investment firms. Devon typically acquires pre-existing properties and converts them to self-storage facilities.IPC officials say the self-storage sector…
Read the full story here.