OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Private Capital Corporation ("IPCC") is pleased to announce a new strategic relationship with Metro Storage LLC ("Metro"), a privately owned, fully integrated self-storage operating company. This partnership marks the launch of IPCC’s newest investment platform focused on strategically acquiring, owning and managing self-storage properties across the nation.
Metro has an established national management footprint, as well as a 40-year track record with in-place acquisitions and property management expertise that will allow IPCC to deliver best-in-class service through the ownership and management of self-storage properties.
“Strong operating fundamentals and low capital expenditures make the self-storage sector a desirable asset class for IPCC,” said Keith Lampi, president and chief operating officer of IPCC. “Given where we are in the current economic cycle, we believe the sector strikes a healthy balance of achieving stable long-term income and capital preservation. We are thrilled to enter the marketplace with an operating partner that shares a common corporate directive focused on creating and delivering value to investors.”
“Metro has a longstanding track record of providing self-storage investment opportunities to large institutional partners,” said Blair Nagel, CEO of Metro. “Through our newly established relationship with IPCC, we are excited about the prospect of assisting IPCC in providing similar opportunities in the self-storage space through its investment platform.”
About Inland Private Capital Corporation
Inland Private Capital Corporation, based in Oak Brook, Ill., offers replacement property investments for persons participating in a 1031 tax deferred exchange, as well as opportunities for accredited investors who are seeking a real estate investment. Inland Private Capital Corporation is a part of the Inland Real Estate Group of Companies, Inc., which is comprised of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries. As of December 31, 2015, IPCC has sponsored 182 private placement programs. The 182 private placement programs include 451 properties, comprised of over 26.02 million square feet of gross leasable area, and more than 6,800 residential units for an aggregate offering price of more than $5.319 billion.
About Metro Storage LLC
Metro Storage LLC is a privately owned, fully integrated, international self-storage operating company specializing in the development, construction, acquisition, and management of self-storage facilities in the USA and Brazil. Metro built its first self-storage facility in 1973 and currently has over $1 billion of assets under management. Today, Metro has positioned itself as one of the nation’s premier self-storage operators under the trademark Metro Self Storage® and is now the 4th largest private self-storage company in the country and the 10th largest among private and public self-storage companies.
