Elite Storage Group 6 - Property
Investment Opportunity

INVESTMENT HIGHLIGHTS

Highly occupied 90% portfolio within and surrounding the Oklahoma City MSA, a top 40 market
Strong operating history with significant upside remaining through revenue management and implementation of aggressive tenant insurance strategy
Well-positioned for remote operational management

GENERAL DESCRIPTION

The Elite Storage Group Portfolio is a 173,825 rentable square foot (excluding parking) value-add portfolio consisting of six (6) properties and located in the around and within the Oklahoma City MSA, a top 40 market. The assets are currently remotely managed with the capability for a regional on-site manager and provide an attractive amount of scale for existing and new market participants. Four of the size facilities are equipped with control system access. The cumulative parcels measure a combined 18+ acres.

The opportunity provides further upside through a combination of realistic, achievable strategies:

Effective tenant insurance sales strategy (sold approximately $21,000 total in 2020 across the almost 1,214 unit portfolio),
Revenue management, most of the properties have a Economic Occupancy to Physical Occupancy gap which creates an opportunity for make the properties more profitable,
Expansion.

Considering the immediate scale, attractive in-place yield with realistic room for improvement, high barriers to entry based on market rental rates and soaring construction costs, this is a compelling value-add portfolio.

GNG Storage
GNG Storage is located outside of Elgin, OK, which is 15 miles from Lawton, OK, one of the largest cities in Oklahoma. Elgin has been remotely managed for years and maintained a consistently, high occupancy with that operational strategy. It’s a low maintenance facility which adds to the scale of the portfolio.

Spartan Storage
Spartan Storage is the only storage facility in the town of Verden. It has maintained a consistent high occupancy and has been remotely managed for several years. It’s a nice bolt on asset for scaling purposes.

Kwik-Lock Storage
Kwik-Lock Storage contains 341 units within 52,750 rentable square feet and is managed remotely. The property has additional land for open parking, pods and/or building expansion towards the main arterial road it fronts on. Kwiklock is in a rapidly growing area with significant residential development and strong income demographics. It has a strong occupancy operating history and there’s significant upside remaining to raise rents and implement tenant insurance strategies. Kwiklock is an institutional quality property with some room for expansion.

Broadway Self Storage
Broadway currently contains 253 units within 34,725 rentable square feet and an onsite property office. The office with on-site apartment can be used for operations or turned into a profit center with renting out the apartment to a long-term tenant. It has highway visibility and is a site on a main arterial road. Moore formerly managed by a highly respected, professional third-party manager who was aggressive in pushing tenant insurance and rates. Broadway is an institutional quality property with some room for expansion.

Woody’s Mini Storage
Woody’s Mini Storage contains 197 units within 26,900 rentable square feet and is remotely managed. The property has additional land for open parking. It has a strong occupancy operating history and there’s significant upside remaining to raise rents and implement tenant insurance strategies. Woody’s is a well-positioned property with some room for expansion.

A-Z Mini Storage
A-Z Mini Storage is located in Stratford and is one of two self storge properties in Stratford. The property has maintained a high occupancy over several years and recently added 3,000 RSF, which has been leased up in rapid time. The property has been managed remotely for years and helps add scale to portfolio operations.