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| Self-Storage facility at 701 South Homestead Boulevard, Homestead, FL |
IRVINE, CA (Dec. 17, 2013) -- Trico Investments, a real
estate investment company specializing in value add self storage properties,
has added another facility to its portfolio.
The firm completed
the purchase of an approximately 500-unit, two-story self storage property
located at 701 S. Homestead Blvd. in Homestead, Florida. The three-acre property was built in 1986.
Trico completed the all-cash purchase from Homestead US 1
Self Storage LLC for an undisclosed amount.
Trico plans to reposition the asset through its focused management and
proprietary business plan.
According to Trico executives, the self storage industry is
a strong sector, poised for continued growth due to solid tenant demand and the
opportunity for rising rents.
Looking ahead to 2014, the firm will continue to target self
storage assets for acquisition and repositioning located within California,
Florida and Texas, as these are strong population centers.
Based in Irvine, CA, Trico Investments has developed and
acquired approximately 100 self storage facilities. The firm targets infill properties within populated areas that
have high barriers to entry.
For more information contact Kirt Boultinghouse at
Trico Investments at (949) 313-6176 or kirt@tricoinvestments.com
For a complete
copy of the company’s news release, please contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
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