SELF-STORAGE INVESTMENT OPPORTUNITY

Overview

ICM Bluebird Canadian Self Storage Fund is acquiring and consolidating a portfolio of primarily Class A and best-in-market self-storage facilities in major metropolitan areas across Canada.

 

Who Invests?

  • An investor pursuing alpha from active value creation strategies

  • An investor seeking a diversified portfolio of primarily Class A and best-in-market self-storage facilities

  • An investor searching for direct investment exposure to high-quality self storage assets in major Canadian markets

  • An investor who feels it is important to work with a strategically aligned and experienced management team

 

Investment Highlights

Proven Operator: Bluebird Self Storage's team has developed over 100 premium self storage facilities in Canada and the United States and is the fastest-growing self storage operator in Canada, and one of only a few groups focused on operating Class A facilities

Opportunity Pipeline: Proprietary rights to a country-wide portfolio comprised of 3.5 million SF of existing pipeline and 1.7 million SF of development pipeline, providing visibility for future acquisitions

Multiple Sources of Investment Return

Investment returns will be driven by:

  • Income from existing properties
  • Income and capital growth from properties acquired from non-professional operators
  • Income and capital growth from successfully leasing up new but not yet stabilized properties
  • Capital growth through the development of new properties
  • Achieving a portfolio premium on exit through actively consolidating a portfolio

Institutional Grade: Predominantly Class A storage portfolio in Canada’s largest cities, managed and operated by a highly experienced team with ~70% of the existing asset pipeline comprised of Class A facilities providing strong FFO growth

 

Self storage assets from three main sources:

  1. Acquisition of an existing portfolio of Bluebird managed assets in which Bluebird has varying minority ownership interests among fragmented majority ownership structures. These assets are predominantly larger, institutional size and quality facilities in 'A' locations. Bluebird currently manages 26 facilities across Canada.

  2. Acquisition of existing third-party assets that either complement the existing portfolio, provide strategic placement for the Fund's national presence, or offer significant upside due to poor current management, below-market rental rates, or expansion opportunities.

  3. An active development arm will provide a pipeline of Class A quality assets in premium locations that can be rolled into the investment once built and stabilized to roughly 50% occupancy.