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Alternative Assets  + Latest News  + Real Assets  |  December 9, 2022
Real Estate Investment Firm VanWest Partners Closes Sixth and Seventh Deals for its VanWest Storage Fund III
Joe Palmisano
By: Joe Palmisano

Real Estate Investment Firm VanWest Partners Closes Sixth and Seventh Deals for its Fund III

VanWest Partners, a commercial real estate investment firm based in Denver, acquired two additional self-storage properties for its VanWest Storage Fund III.

The two acquisitions are the sixth and seventh for Fund III since launching in April 2022 and represent the final closings of the year.

The acquisitions were sourced off-market and will add immediate value to Fund III as the firm leverages their operational platform to grow net operating income.

Jacob Vanderslice, a principal at VanWest Partners, noted, “We’re very pleased with the early performance of the Fund’s seven acquisitions made this year. 2023 will be a transformational time in the real estate investing space – the years of irrational exuberance are coming to an end,”

Fund III now includes a total of seven self-storage facilities, with $51.2mn in capital deployed.

VanWest anticipates a 2–3-year deployment period for Fund III with targeted returns of 14%-16% IRR and a 2x-2.25x multiple over a seven-year hold.

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VanWest Partners

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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