Investment & Development

Highlights

Comprehensive Skill Sets and Proven Track Record
Marc Sharinn possesses an intimate understanding of the capital markets and is responsible for structuring and negotiating Safe N Lock’s financial partnerships, banking relationships and joint ventures. SNL benefits from Marc’s proven ability to structure effective financial partnerships and joint ventures and his procurement of favorable financing from accredited individual investors, real estate private equity firms, commercial banks, as well as self storage real estate investments trust (REITS). SNL places extreme value on these financial relationships and seeks to ensure that they are beneficial to all parties and endure over time. He is also deeply involved in real property acquisitions.

The acquisition team is led by Ari Goldman and excels due to his thorough understanding of New York City zoning and market demographics, as well as his artful ability to configure the optimal unit mix for particular micro markets. Ari’s robust pipeline of attractive properties is a result of his vast network of commercial real estate brokers and land owners. He is frequently the beneficiary of off-market real estate opportunities.

Michael Humphrey is a major builder of self storage facilities in New York City and possesses a comprehensive understanding of all facets of the construction process. Michael enjoys long term relationships with most of the self storage industry’s third party professionals, proprietary component suppliers and subcontractors.

Marc, Ari and Michael have a consistent track record of sourcing and building institutional quality projects on time and within budget. Collectively, their expertise represents the full dimension that makes Safe N Lock second to none.

High Barriers to Entry
SNL Construction, LLC, an affiliate of Safe N Lock Self Storage LLC, acts in the capacity of general contractor for all self storage development projects. This makes the “SNL” team one of the only organizations capable of actively and effectively managing development projects from start to finish.

Management believes their integrated approach provides stricter control over the construction schedule and expenses, ultimately resulting in a higher quality product and greater profitability. Very few companies have the experience, skills, knowledge and local relationships required to build state-of-the-art self storage facilities in the tri state area. In fact, only a few companies have successfully constructed new self storage facilities in New York City in recent years.

Safe N Lock’s experience and strong relationships with the New York City governmental agencies and relevant building departments, as well as with expediters, material suppliers and subcontractors, uniquely position SNL to maintain its competitive advantage, now and for years to come.

Unmet Demand and Strong Fundamentals
Due primarily to the inherent challenges to building in New York City, the supply of self storage has chronically fallen short of demand. This is particularly true today due to years of light development activity post the recession of 2008. As a result of market indicators such as high facility occupancies, robust rental rates and growing urban populations, SNL believes new supply will be rapidly absorbed.

Competitive Advantage of New Construction
Much of New York’s existing self storage inventory consists of older properties, retrofits and conversions of former warehouse and industrial facilities. Many of these locations lack critical features, such as proper interior lighting, climate controlled units, easily navigated corridors, adequate security, drive up and drive in options, and more.

SNL’s new, clean and modern facilities are highly visible, safe and have gained an important competitive advantage in their respective sub-markets. Because of these attributes, SNL facilities command higher rents, greater occupancy and higher sales prices upon exit when compared to competitors in this market.

Desired Asset Class
Publicly traded self storage REITs have been among the best performing REIT sectors, returning 40% in the last year compared to 2.8% for REITs as an asset class. Currently, the average dividend yield for self storage REITs is 3.63%. (1)

Stable Asset Class
Self storage properties enjoy highly predictable cash flow streams and allow for frequent rental rate increases, thereby creating both the opportunity for substantial NOI growth and protection against inflation.

(1) Source: NAREIT; FTSE; as of 10/31/2016