Hardware

$300M self-storage venture features kiosks

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December 9, 2022

Newmark Group, a provider of commercial real estate services, has arranged a $300 million self-storage joint venture between Maya Capital Partners and Artemis Real Estate Partners focused on self-storage assets in the northeastern U.S., according to a press release.

The venture will utilize Maya's existing "Drive Up Storage" brand, an operating system with remote management and data analytic capacity and on-site, kiosk-driven customer interfacing.

The venture was seeded by the acquisition of a 1,120-unit Class A self-storage asset in New Rochelle, New York. The 96,693-square-foot facility consists of a single, four-level building that is 100% climate controlled. The asset, which just received its certificate of occupancy, will allow for immediately leasing.