Bill Gates Family Office and Singapore SWF Invest Big-Time in StorageMart
Posted on 10/15/2020
Columbia, Missouri-based StorageMart claims to be the largest privately owned self-storage company in the world. Singapore’s GIC Private Limited, along with Bill Gates’ Cascade Investment, L.L.C. are becoming investors in StorageMart. The two investment partners are joining the majority owner Enos Stanley Kroenke and the Burnam Family as partners in the business. The transaction values StorageMart at an enterprise value of approximately US$ 2.7 billion.
Stanley Kroenke is the owner of Kroenke Sports & Entertainment, which is the holding company of English Premier League football club Arsenal F.C., the Los Angeles Rams of the NFL, Denver Nuggets of the NBA, Colorado Avalanche of the NHL, Colorado Rapids of Major League Soccer, Colorado Mammoth of the National Lacrosse League, the Los Angeles Gladiators of the Overwatch League, and the newly formed Los Angeles Guerrillas of the Call of Duty League.
StorageMart’s day-to-day management will continue to be led by Cris Burnam serving as Chief Executive Officer, Mike Burnam as President and Chief Investment Officer, and Ryan McKenzie as Chief Financial Officer. StorageMart, founded by the Burnam Family, owns and operates stores located throughout the United States, Canada, and the United Kingdom. The company is a vertically integrated platform that owns, operates, and develops self-storage properties throughout the world. StorageMart is an industry pioneer in creating operating strategies that enhance facility performance and profitability.
Citigroup served as exclusive financial advisor to StorageMart. Kirkland & Ellis LLP served as legal counsel to StorageMart, Torys LLP served as legal counsel to GIC, Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to Cascade, and Baker & McKenzie LLP served as legal counsel to E. Stanley Kroenke.
Cascade Investment, L.L.C. is a private investment entity for Bill Gates (William H. Gates III).
The Kroenke Group (TKG), a Columbia, Mo.-based real estate investment group. TKG was founded by Stan Kroenke in 1983. The company primarily invests in shopping centers and apartment developments nationwide.
Keywords: Tkg-Storagemart Partners, L.P.