William Warren Group’s Self-Storage Income Fund expanded from eight to 17 assets through the contribution of nine operating StorQuest facilities valued at $110.9 million. Connect CRE’s October 28 report states that the fund reached $196 million in gross asset value after the contribution.
The contributed properties total approximately 410,000 rentable square feet across West Coast and Sunbelt markets. Approximately 80% of investor equity rolled into fund units. A new $200 million Wells Fargo credit facility was also announced.
Analysis: This is a contribution with substantial equity rollover, rather than a conventional cash purchase. Fund gross asset value and contribution value are different measures, so dividing one by the other does not establish an ownership or risk-exposure percentage. The disclosed market mix and rentable area improve context, but asset-level cash flow, debt and capitalization rates would still be needed for a pricing comparison.
The contributed properties total approximately 410,000 rentable square feet across West Coast and Sunbelt markets. Approximately 80% of investor equity rolled into fund units. A new $200 million Wells Fargo credit facility was also announced.
Analysis: This is a contribution with substantial equity rollover, rather than a conventional cash purchase. Fund gross asset value and contribution value are different measures, so dividing one by the other does not establish an ownership or risk-exposure percentage. The disclosed market mix and rentable area improve context, but asset-level cash flow, debt and capitalization rates would still be needed for a pricing comparison.
Key Takeaways
- Nine contributed StorQuest facilities take the fund to 17 assets and $196M gross asset value. Assess the equity rollover, asset-level cash flow and financing terms together when evaluating the contribution.
Connect CRE, October 28, 2026, William Warren Adds Nine Properties to Self-Storage Income Fund: nine operating StorQuest facilities contributed at $110.9M; fund grows from eight to 17 assets and reaches $196M gross asset value after contribution; approximately 410,000 rentable SF in West Coast and Sunbelt markets; approximately 80% of investor equity rolled into fund units; a new $200M Wells Fargo facility announced. https://www.connectcre.com/stories/william-warren-adds-nine-properties-to-self-storage-income-fund/
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