AUSTIN, Texas--(EON: Enhanced Online News)--Austin-based real estate investment firm, World Class Capital Group, LLC (http://www.wccapitalgroup.com/), announced today that it has acquired Memphis Mini Storage in Memphis, Tennessee. The property is located at 3961 Lamar Avenue and consists of 474 units and approximately 60,000 square feet of storage.
“We will be making immediate capital improvements to enhance the property.”
World Class Capital Group will rebrand the asset under its Great Value Storage flagship brand (http://www.greatvaluestorage.com/), a wholly-owned and operated subsidiary of WCCG. This acquisition follows a series of self-storage portfolio acquisitions completed by World Class Capital Group over the past 18 months. The acquisitions have made WCCG’s Great Value Storage platform one of the largest privately-owned self-storage operators in America, with over 20,000 units nationwide.
“This opportunistic acquisition allows us to grow our existing presence in the Memphis market as well as our national self-storage platform,” said Sheena Paul, a Vice President at World Class Capital Group. “We will be making immediate capital improvements to enhance the property.”
The seller was C-III Asset Management, a special servicer that foreclosed on the previous owner.
About World Class Capital Group, LLC
World Class Capital Group, LLC is a leading private real estate investment firm based in Austin, Texas. World Class targets investments across a broad range of asset types through single-asset and portfolio acquisitions, and is also an active acquirer of real estate debt. WCCG’s primary focus is the acquisition of complex or undervalued real estate assets with the opportunity to create value through repositioning, redevelopment, or leveraging our exceptional property and asset management platform to create operational efficiencies. WCCG’s portfolio includes investments in office, retail, industrial, multifamily, self-storage, and land in 12 states and 23 markets nationwide. Please visit our website for more information: www.wccapitalgroup.com
About Great Value Storage, LLC
Great Value Storage, a wholly owned and operated subsidiary of World Class Capital Group, LLC, currently operates 39 self-storage facilities containing over 20,000 units and over 3,000,000 square feet. Great Value Storage facilities reflect a commitment to quality, convenience and service. Great Value has a commitment to quality, convenience and service and strives to provide low-cost offerings and high-touch service for its customers. The company has an integrated national platform that increases asset profitability with operating and marketing cost efficiencies. Please visit our website for more information: www.greatvaluestorage.com