AC SSS is Engaged to Manage 4 Self Storage Assets, Encompassing 320,000 SF and 2,442 Units
CARLSBAD, CA. (August 1, 2012) AC Self Storage Solutions, LLC, with offices in Carlsbad and Newport Beach, CA has been engaged to manage four (4) new assets located in Texas and Colorado. The assets are located in Arlington, Missouri City and Plano in Texas, and Colorado Springs in Colorado.
The Arlington asset is located at 5500 Hwy 287 in Arlington, TX with 83,575 square feet with 754 units. The Missouri City asset is located at 2604 FM 1092, Missouri City with 54,925 square feet and 555 units. The Plano asset is located at 3500 McDermott Road, Plano with 72,651 square feet and 554 units. The Colorado Springs asset is located at 3150 Boychuck Avenue, Colorado Springs, with 109,640 square feet with 590 units. These projects were previously syndicated by Equity Based Services, Inc.
AC Asset Management, LLC (ACAM), a subsidiary of AC Self Storage Solutions, LLC, (ACSSS), has transitioned the projects with individual strategic plans for improving the projects’ current average 79.10% occupancy and related overall performance.
The four ownership entities are all separate and distinct ownership groups, and include over 130 investors. The owners engaged ACAM to correct recent underperformance, stabilize the properties, and enhance profitability and value. It was also critical to provide full transparency of operational results with investors which ACAM implements through monthly, quarterly and annual reporting along with 24/7 access to our investor portal.
“These were complicated and simultaneous transitions with limited legacy property performance data available. We were fortunate to have a great understanding of the assets. Our implementation of the strategic plans for each project will allow us to reach all of the objectives defined by the owners“, said Craig Morris, President of AC Self Storage Solutions, LLC.
“There were a lot of moving parts, including greatly improving the communications with the investors of all of these projects” added Troy Downing, Chief Executive Officer of AC Self Storage Solutions, LLC.