Uplift Development Group, a Colorado-based real estate firm that specializes in the acquisition, development and management of self-storage facilities, has purchased an 18-property portfolio in the state’s Rocky Mountains region. Spread across five cities in Clear Creek and Grand Counties, the assets comprise 500,000 square feet in more than 3,000 units. The company also plans to develop more than 70,000 square feet of climate-controlled self-storage and vehicle storage in the state as well as specialized ski lockers, according to a press release.
The acquisition was made possible through Uplift’s partnership with Argentic Real Estate Finance, Castor Capital Group Ltd., GYS General Contracting, JLL Capital Markets, SROA Capital and other investors. The properties are primarily along Interstate 70, which connects Denver to many mountain resorts, and U.S. Highway 40, the primary roadway to Rocky Mountain National Park, the release stated.
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“We are incredibly excited to own and operate this portfolio. It is in our own backyard, and we know this market intimately,” said CEO Brandon Grebe. “I have personally driven past these properties for years while traveling to the mountains, and we see this as a once-in-a-generation opportunity to invest in the infrastructure of our local communities. We are incredibly thankful to work with world-class partners, who helped facilitate this complex deal. Most importantly, I want to credit our internal team, who are truly the best in the business.”
Founded in 2015 in Johnstown, Colorado, Uplift operates 36 self-storage facilities in seven states under multiple brands. It plans to expand to more than 45 properties with a focus on the Sun Belt.
Source: PRNewswire, Uplift Development Group Announces Historic Acquisition of 18-Property Self-Storage Portfolio Across Colorado Rocky Mountains
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