Jamie Bennett, Managing Principal and Head of Development, sees a significant opportunity in the Alberta market: “Bluebird has a distinct advantage in the province as we have experience and knowledge of the area and currently manage several stores in Alberta. We have implemented best practices in a market that has tremendous variability in operators. Finding an opportunity like this is rare, where the assets have been severely undermanaged, and we can provide long-term value to our investors by using our proven management practices. Management turnarounds form the basis for our acquisition strategy on these assets and other opportunities across Canada.”

Calgary-based Reade DeCurtins, Co-Founder and Real Estate Director, believes the Alberta market is fertile ground for Bluebird’s growth. “Our footprint is expanding rapidly out West and we’re encouraged by what we see. Storage rates in select Alberta markets match those of other major metropolitan markets in Canada.” DeCurtins adds that, “it’s incredibly exciting to see Bluebird’s coast-to-coast strategy materializing. We’re focused on being Canada’s most recognized, premium self-storage brand. This transaction takes our capital outlay to nearly $200 million just since December. We are being more aggressive than ever before, and our growth is significant across Canada. Specifically, we are seeking management and acquisition opportunities in B.C.”

Jason Koonin, CEO of Bluebird Storage Management has assembled an outstanding team to accelerate income growth for this portfolio. “Bluebird has an experienced leadership team in place that is intensely focused on superior customer service, revenue management and digital marketing. We provide the best customer experience in the industry, hands down.”

Harrison Street Real Estate Capital, LLC served as JV Partner on the transaction and Canadian Western Bank was the lender.