DXD Capital, a leading private equity investor in the self-storage industry, has recently unveiled its newest Class A storage facility located at 671 Batchelor St in Toms River, NJ. This state-of-the-art facility boasts 761 individual storage units spanning over 62,818 net rentable square feet and features four stories with multiple elevators and a convenient drive-in loading area.
The acquisition of this property was made possible through DXD’s highly successful first fund – DXD Self Storage Fund I – which raised an impressive $63 million in committed capital. In addition to this recent venture, DXD also launched its second fund earlier this year and has already invested in seven self-storage properties as well as one portfolio consisting of seven facilities across the United States. The management of the newly acquired property will be handled by renowned company Public Storage.
According to Drew Dolan, principal and fund manager at DXD Capital: “We were drawn to invest in the Jersey shore region due to attractive storage rates.” He further added that “Despite initial challenges posed by zoning regulations for building a self-storage facility on this site seemed insurmountable during our analysis.”
This latest development marks another milestone for DXD Capital’s growing presence within the thriving self-storage market.
