Inland Acquisition Set to Disrupt Self Storage Landscape with Majority Ownership of Devon

In a massive show of strategic expansion, The Inland Real Estate Group of Companies, Inc., one of the largest commercial real estate and financing companies in America, has announced an agreement to acquire a majority interest in Devon Self Storage Holdings (US) LLC, a top-tier privately-owned national self-storage operator. The announcement was made in an official press release on Businesswire and can be accessed here.

Devon, founded in 1988 by Ken Nitzberg, manages over 202 properties and approximately 109,000 units nationwide. The firm has been a game-changer in the self-storage industry, owning, managing, or developing over 350 self-storage facilities in 27 states and three European countries.

Tony Chereso, Chief Financial Officer of The Inland Real Estate Group, heralded the acquisition, asserting that aligning with Devon's progressive self-storage platform perfectly fits Inland's long-term strategic plan. They praised Nitzberg's powerful brand and platform, touting the growth opportunities it would bring across their investment and commercial real estate operating companies.

Inland has demonstrated industry prowess since entering the self-storage sector in 2016, consolidating a $1.7 billion self-storage portfolio across 30 states. Devon's inclusion into the Inland Empire enables them to leverage the existing senior management team while enriching their capital and infrastructure, priming them for innovative expansion in the future.

🔒📚 Hi! I'm Eric Manning, a self-storage operations nerd and lifelong learner. 🗝️ My articles blend industry know-how with a dash of humor and wisdom. Whether you're a storage newbie or a pro, join me as we explore the world of storage, one witty insight at a time! 📦😊🔑