Westport Properties Merges With Vertex Investments to Create Residential Platform

Scott McCormick

  NEWPORT BEACH, CA -- Westport Properties, a premier owner/operator of self storage facilities nationally under the brand US Storage Centers, announced it has merged with Vertex Investments, a privately held real estate investment company primarily focused on multifamily and mobile home parks, throughout the United States.

 The company currently owns and manages seven multifamily properties totaling 638 units.

 The merger will allow Westport to expand and diversify its portfolio with multifamily being a big growth area for the company.  Vertex Investments’ co-founders David Grissom and Scott McCormick will now serve as Managing Partners of Westport Properties’ residential vertical, Westport Residential.

 “David and I have had a close working relationship for over a decade when I realized his values and culture aligned with Westport’s,” said Drew Hoeven, Chairman and CIO of Westport Properties. 

Drew Hoeven

 “This merger was the perfect opportunity and partner for us to launch a residential platform that we have envisioned for some time.  

"We now have the resources and expertise to acquire multifamily properties and manage them in-house while continuing our growth within the self storage and industrial verticals.”

Grissom and McCormick launched Vertex Investments in 2017.  With more than 16 years in commercial real estate Grissom previously worked with multiple high profile companies on acquisition and development projects valued at over $1.1 billion.

    McCormick has over 16 years of experience in commercial real estate and has managed over 4.5 million square feet valued at over $400 million.

 “We are excited to join the Westport Properties family of companies.  Having known and worked with Drew for many years, I know we share the same values and vision. 

               David Grissom

 "Westport has a well-established team of professionals that will be instrumental in growing the residential platform,” Grissom said. 

 McCormick continued by saying, “We have enjoyed working with the Westport team over the years.  

"Sharing the same goals and culture, it made sense to merge with Westport.  We are thrilled to join a premier organization that will enable us to continue to grow and provide a high level of service to our clients.”

 CONTACT:

 David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com