Big Cypress Capital, an SB360 Affiliate, 4 Rivers Property Group, and Declaration Partners Form Joint Venture to Develop Self-Storage Facilities in Southeast US
BOSTON, Massachusetts and NAPLES, Florida – September 19, 2023 – Big Cypress Capital, an SB360 Capital Partners affiliate, along with 4 Rivers Property Group and Declaration Partners (the “Partnership”), recently announced the formation of a joint venture to develop ground-up Class A self-storage facilities in high-growth markets throughout the Southeastern US.
In announcing the joint venture, the Partnership also disclosed it completed its first land acquisition in Southwest Florida in 2Q 2023. Development on the high-traffic site located on US 41 in Sarasota will commence by early 2024 and deliver approximately 12 months later.
The Partnership will engage with best-in-class third-party operators to lease and manage each project. Third-party management for the venture’s first project will be announced at a later date.
“The successful creation of this joint venture exemplifies and validates our primary organizational thesis and further establishes proof of our strategic operator platform’s unique value proposition,” said Big Cypress CEO Max Mazzone.
This high-profile Sarasota project is Big Cypress Capital’s second ground-up self-storage development in Florida and its eighth ground-up self-storage project across eight East Coast MSAs.
“We are excited about this collaboration between our Big Cypress affiliate and the teams from Declaration Partners and 4 Rivers Property Group,” commented Aaron Miller, President of SB360 Capital Partners. “This Partnership brings together our collective strengths and resources to capitalize on the demand for high-quality self-storage facilities in the Southeast.”
Mr. Miller also expressed enthusiasm for the continued growth of Big Cypress Capital and its strategic alliance with other real estate industry leaders. “Big Cypress’s participation in this joint venture exhibits the range and diversity of SB360’s holdings and our operations across multiple industries.”
The Partnership anticipates making additional announcements for other upcoming ground-up development projects in high-growth Sunbelt markets in the coming months. The goal is to build an attractive and geographically diversified institutional caliber portfolio over the coming years.
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About Big Cypress Capital – Big Cypress Capital, an SB360 affiliate, is an investment management firm. Big Cypress Capital’s Strategic Operator Platform focuses on cultivating capital partnerships with real estate operators and institutional JV partners, resulting in long-term value creation within their platforms. Please visit bigcypresscap.com for more information.
About SB360 Capital Partners – SB360 Capital Partners (sb360.com), a Schottenstein Affiliate, is one of North America’s leading asset realization and merchant banking firms. The firm invests equity capital to support growth opportunities, fund business turnarounds, and provide liquidity to businesses navigating change. SB360 encompasses business groups involved in advisory services, asset disposition, luxury diamond and jewelry assets, new store sets, and commercial real estate advisory and investment. The firm’s lending arm, Second Avenue Capital Partners, provides asset-based loans for middle-market companies. SB360’s principals hold extensive financial interests in internationally recognized retail and wholesale companies, consumer brands, financial service operations, and commercial, residential and industrial real estate properties.
About 4 Rivers Property Group – 4 Rivers Property Group is a pure-play self-storage platform focused on the acquisition and development of institutional-quality storage assets in high growth MSAs. 4 Rivers’ mission is to identify investment opportunities that we believe offer our clients and partners the most durable and compelling risk-adjusted returns in dynamic capital markets environments. The principals of 4 Rivers Property Group have over 50 years of real estate investing and capital markets experience, having acquired or developed over nearly 20M square feet of commercial real estate with a total capitalization in excess of $4.0B over their careers. www.4riverspg.com
About Declaration Partners – Declaration Partners is a private investment firm that seeks to be a value-added capital partner and strategic resource to management teams and asset owners where patient, flexible capital provides an advantage. Declaration has approximately $2.1 billion in assets under management across its investment strategies, which include real estate, tactical growth equity, fund seeding, and other opportunistic strategies. Anchored by the family office of private equity veteran and philanthropist David M. Rubenstein, Declaration invests on behalf of family offices and like-minded institutional investors. The firm was founded in 2017 and is headquartered in New York with an office in the Washington, DC area. www.declarationpartners.com