Case Study

27th Mar, 2014 | Few mins to read

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[icon name="user"][/icon] Extra Space (Asia)

The Extra Space investment portfolio was established in 2006 by USSFM founders Robert and Jonathan to take advantage of the self storage investment opportunities in key Asian markets. [/col] [col class="span4"]

[icon name="tasks"][/icon] Project Overview

The Extra Space portfolio consisted of 4 self storage facilities in Singapore, 1 in Malaysia and 1 in South Korea, with a combined net lettable area of over 450,000 sq ft.[/col] [col class="span4"]

[icon name="usd"][/icon] Project Value

To fund the developments, investors contributed $24 million (AUD) and were returned $48 million (AUD) over a 5 year period. Debt was sourced in the local currency at a LVR of 55%.[/col] [/row]

[icon name="lightbulb"][/icon] Investment Opportunity

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[icon name="user"][/icon] Australia Prime Storage Fund (Australia)

The Australian Prime Storage Fund (APSF) was established in 2015 to develop and own state of the art self storage centres located in the major capital cities centres on the east coast of Australia. APSF was a joint venture between Universal Self Storage Prime Storage Fund (USSPSF) (75.1% ownership) and National Storage (NSR) (24.9% ownership). [/col] [col class="span4"]

[icon name="tasks"][/icon] Fund Overview

Established to develop new, marketing leading self storage centres within 10 kms of the major cities of east coast Australia and New Zealand. At its peak the APSF portfolio consisted of 4 self storage facilities in Kelvin Grove (QLD), Albion (QLD), Carrara (QLD) and Canterbury (Victoria), with a combined net lettable area of 23,400 sqm.[/col] [col class="span4"]

[icon name="usd"][/icon] Total Project Value

The Total Development Cost of the APSF Portfolio was $56.8m. Debt was sourced at an LVR of approximately 50% of the Project Value. Equity was raised by USSFM from NSR and USSPSF.[/col] [/row]

[icon name="lightbulb"][/icon] Investment Opportunity

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