Self Storage Acquisitions
Carmel IN
Purchased off market for $5.6 Million in December of 2018, Adams French Property was able to find 54,000 rentable feet of storage in the middle of the highest income suburb of Indianapolis. Located in the Carmel City Center, this property was undermanaged and bleeding value. After two years of management by Adams French Property and Extra Space Storage, the property is now under contract to sell for $7.7 Million.
Indianapolis IN
Located off of Rockville Road on the West side of Indianapolis, this property was a true value add acquisition. Acquired in 2006, AFP managed this facility in house under their “Storage Depot” brand name. After stabilizing the facility and getting the property fully occupied, AFP expanded the property adding more rentable units in 2011.
Indianapolis IN
Another Value add acquisition for AFP, the Washington Street location on the East side of Indianapolis was bought with the Rockville Road location in 2006. This property was under managed and at low occupancy. AFP stabilized this facility and ultimately added more buildings in 2015 to boost value.
Angola, IN
A classic value add acquisition located in Northeast Indiana. Purchased in 2022, the property was undermanaged with low occupancy. AFP cleaned the property up, rebranded, and reduced the square footage, but added number of units, by converting large buildings to interior storage. This property is apart of the Hometown Storage brand.
Martinsville, IN
Located an hour south of Indianapolis, in Martinsville, IN, is another value add acquisition that has been added to our Hometown Storage portfolio.
New Albany, IN
North Webster, IN
Located along State Road 13 in Northern, IN is our North Webster/Leesburg location. After being rebranded to Hometown Storage, an addition of 13,000 sqaure feet, including climate control was added.
Salem, IN
Purchased in 2022, Salem was an undermanaged facility with ample room for expansion. Hometown Storage rebranded the facility and added 3,000 square feet of drive up and interior storage.
Scottsburg, IN
Another value add facility, Scottsburg, was poorly managed and maintained.. Bought in 2024, Hometown Storage rebranded in less than 90 days.