Austin Self-Storage
Austin MSA

A Nordic-led partnership purchased the 18,200 square foot self-storage facility in June 2021 off-market through a local relationship. Very-well located and under-managed Class C self-storage facility in one of the fastest growing cities and MSAs in the U.S. Occupancy at acquisition was well below market and in-place rents 30-45% under market.

Purchase price was approximately 20-30% discount to replacement cost. The asset is strategically located just off the I-30 toll-road, which is a primary access route to and from Georgetown via Austin. Nordic performed strategic capex improvements to re-position asset as Class B and optimized marketing and operations to bring rents and occupancy to market levels. Nordic closed on the sale of the project in September 2022.