MERIT HILL CAPITAL
is a real estate investment firm focused on acquiring, owning and managing self-storage facilities across the U.S.
The self-storage industry is a largely fragmented and inefficient industry. Currently, over 71.6% of owners only own one or two properties,1 making it difficult for smaller operators to compete with the scale, advertising and revenue management of public self-storage REITs. Merit Hill believes there are opportunities for value creation thru asset aggregation and industry consolidation.
Characterized by high margins and low operating costs
Short-term leases may provide a hedge against inflation
Growing U.S. population has exceeded supply growth
New development expected to slow in a post COVID-19 world
1) 2020 Self Storage Almanac
2) Green Street Advisors
We evaluate every opportunity that we come across in any area of the country, and have the ability to be flexible in our approach.
Our basic target criteria for potential acquisitions is as follows:
Merit Hill operates a diverse portfolio of self-storage units throughout the U.S. Each property has gone through extensive due diligence and underwriting to determine the financial viability of each location.
234
33
111K+
15.6M
Featured Investments presented herein are for illustrative purposes only, have been selected in order to provide examples of the types of investments made by Merit Hill Capital and do not purport to be a complete list thereof. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein.
Founded in 2016 by Liz Raun Schlesinger, Merit Hill Capital, LP (“Merit Hill”) manages real estate investment funds focused on the self-storage industry. Merit Hill received an initial equity commitment of $300 million for its first managed fund from a private investment firm with approximately $27 billion in capital under management. Building on the success of this first fund, Merit Hill has expanded to create multiple vehicles using a variety of structures and strategies.
Since inception, Merit Hill has acquired more than 270 self-storage facilities, in over 140 separate transactions, consisting of 120,000+ individual storage units and over 15,000,000 net rentable square feet across 35 states. Importantly, these investments were carefully chosen after reviewing 4,300 properties through Merit Hill’s extensive and proprietary deal flow. As the largest buyer of individual storage properties in 2020, the executive team is well known in the self-storage industry. The core investment team at Merit Hill has built two of the 10 largest self-storage portfolios in the country, with the current portfolio ranking us as the 9th largest owner in 2021.
Merit Hill Capital sponsors private real estate funds that invest in self-storage properties predominantly located in major metropolitan areas throughout the United States.
© 2023 · Merit Hill Capital