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.