HPI's Jon Erickson looking to self storage as one of the 'best options for capital deployment' - Dallas Business Journal

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'I think the options for capital to be deployed in self storage will have more support than you probably are getting in other asset classes,' said HPI's Jon Erickson in a recent interview involving the real estate firm's self-storage strategy.

also play an integral role with both acquisitions and portfolio management, Erickson said.

Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL's Capital Markets Investment Sales and Advisory team represented the seller, a joint venture between Chicago-based Harrison Street and Dallas-based Advantage Self Storage. JLL also procured the buyer.What are you building at HPI and what is the investment strategy?

Our investment thesis for Funds I and III was to aggregate these assets and have a portfolio institutional exit. We didn’t have that large portfolio exit partially because the market was peaking and because the timeline between the first deal and the last deal was so long that we never really got to our initial thesis of building a portfolio and instead sold it off in pockets.

Fund II we have a single investor with a generational mindset. The intent of that is to be an evergreen capital source to continually invest and deploy capital into that space.

 

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