Real Estate, Private Investment Firms Form JV for Self-Storage Facilities

Real estate firm 4 Rivers Property Group and investment firms Declaration Partners and Big Cypress Capital have formed a joint venture to develop Class A self-storage facilities in growth markets throughout the Southeastern US.

The joint venture intends to partner with best-in-class third-party operators for leasing and management of each of its projects. The management company for the venture’s first project will be announced at a later date, according to the firm.

“Current market headwinds should create interesting opportunities to add to our already growing pipeline. Declaration has proven to be a constructive capital partner and we are excited about the prospects of a long-lived partnership together,” said Ryan Downs, a principal at 4 Rivers.

The firms expect to make more announcements in the coming months about other planned projects in high-growth Sunbelt locations, with the goal of building out an appealing and geographically diverse portfolio over the next few years.

In addition, the firms stated that they held the first land closing in southwest Florida in the second quarter of 2023. Development on the high-traffic, high-demographic by-right site is expected to begin in early 2024 and be completed 12 months later.