Equity Resource Investment Fund 2017 (F2017) provided GP-level equity for 11 different self-storage development opportunities generated by a prior ERI fund’s self-storage platform investment. Based on the current underwriting for each property, the expected equity contribution for F2017 will be approximately $21.9 million in the aggregate.
F2017’s investment will be made at the property level and on an individual property basis as opposed to a portfolio basis. The 11 sites are as-of-right for self-storage development and have been thoroughly vetted by the sponsor, with whom ERI has a longstanding relationship. The principals of the sponsor are collectively a proven team of developers and contractors of over 40 self-storage facilities in the New York area.
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