Larkspur Storage (“Larkspur” or the “Company”), a portfolio company of Staple Street Capital (“Staple Street Capital” or “SSC”), is excited to announce the sale of two of its development projects located in Belleville, Illinois, and Opelika, Alabama.
Based in Miami, Florida, Larkspur is a platform company focused on building, acquiring, and operating Class-A self-storage facilities across the U.S. and Canada. Larkspur CEO David Bernstein, an executive with extensive experience in real estate investment and development, first partnered with Staple Street Capital in 2019 to redevelop failed retail centers into leased Class A self-storage facilities. The successful sale of these two facilities marks the realization of the strategy which Staple Street Capital and Larkspur Storage formed a partnership to pursue.
David Bernstein, the CEO of Larkspur, commented, “We are excited to realize the sale of these two development projects. SSC has been instrumental in assisting the Larkspur team to create value.”
The partners at Staple Street Capital added, “We are proud of David and his team, and all that they have accomplished. We look forward to continuing our joint venture and investing in additional opportunities with them.”
About Larkspur Storage
Larkspur Storage is a platform company focused on building, acquiring, and operating Class-A Self Storage facilities across the United States and Canada. Larkspur Storage was formed as a partnership between Staple Street Capital and Larkspur Properties in order to capitalize on the dislocation in the big-box real estate market by acquiring vacant retail locations and converting them to self-storage facilities. Larkspur Storage is actively seeking investments in self-storage opportunities including single-assets, portfolios, and conversion opportunities. For inquiries, please contact David Bernstein at david.bernstein@larkspurprop.com.
About Staple Street Capital
Staple Street Capital is a leading private equity firm with approximately $900 million of capital under management and invests in market‐leading businesses where there are transformational opportunities to create value. Staple Street Capital helps companies capitalize on new opportunities to build stronger, more valuable businesses. For more information, see www.staplestreetcapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231110164748/en/
Contacts
Kevin Siedenburg
Managing Director, Head of Business Development
ksiedenburg@staplestreetcapital.com
