248-UNIT COMMERCIAL ASSET
All Star Self Storage was purchased by Rebus Capital LLC in September 2017. This 1992 build asset had a value-add opportunity in the form of severely deferred maintenance as well as poor management. The parking lot and driveways were full of potholes, flooded with rainfall, and offered an overall poor experience for tenants. Also, the gates had to be opened manually. The occupancy at closing was 38%.
Rebus Capital is updating the exterior of the property by resurfacing the parking lot and driveways, installing electronic gates, freshening the office updated paint, fixtures, etc, as well as updating signage. Rebus Capital has also rebranded the asset from "All Star Self Storage" to "Stack It Up! Self Storage" in an attempt to differentiate and attract a new demographic. Fun and trendy branding staples will be placed around the facility, such as a brick wall with an exciting backdrop for "selfies" and pictures to add social value to the complex.
Lastly, Rebus Capital has partnered with Argus Professional Storage Management who are heading up marketing and leasing out vacant units.
Based on this value-add play, Rebus Capital LLC and our investors will enjoy healthy returns.