Ziff Real Estate Partners has been in business since 1991
November 16, 2021: Ziff Real Estate Partners (ZRP), a self-storage real estate developer and owner, has closed on $50 million of equity to launch the ZRP Storage Opportunity Fund. The company will use it to expand its existing properties, redevelop non-storage structures and build ground-up projects, according to a press release.
Over the past decade, ZRP has invested more than $250 million in the self-storage industry. Its portfolio comprises 1.5 million square feet across 18 properties in six states. The firm has produced a net internal rate of return of 21% and two and a half times multiple on invested capital on realized storage investments, the release stated.
The fund intends to acquire or develop approximately 15 properties. To date, it has closed on one site, with two more transactions expected to be complete by year’s end. Three additional sites are in the due-diligence phase.