Who Needs a Rubber Chicken When You Have Self-Storage Awards?
Have you ever had the thrill of sitting through an industry awards event? Neither have we, but apparently, there's one now for self-storage. And guess who cleaned up this year? Let's dive in.
Self-Storage Awards: Less Exciting Than Watching Paint Dry, but Less Messy Too!
Intrigued? I bet you wouldn't ever think self-storage could be such a competitive business. The recent IMN Single Family Rentals Industry Awards 2023 took place, and the reel of trophies was quite astonishing. For fans of self-storage or people with a peculiar interest in real estate, our attention has been captured by LaTerra Development & WAY Capital.
Adjudged as the best land development in the country (@CTourtellotte shared this news on his Twitter - don't worry, we didn't know land development was a competitive sport either), their extensive 344-unit project in the state of New Mexico has put them on the map.
Considered the largest QOZ project in the state, this gigantically humongous $100M BTR development has indeed bagged all the chips ( chips as in Casino chips, not the snack).
Wondering what a QOZ project is? Well, it's field jargon for the Qualified Opportunity Zone. It is a part of a community development program to encourage long-term investments in low-income urban and rural communities nationwide.
It's no joke; this ginormous investment was as surprising as finding out your grandma has decided to run for president.
Round-Up: Whether you're knee-deep in the world of self-storage or pass by occasionally, one thing is clear – the industry is about as predictable as a squirrel on caffeine. So keep your eyes peeled, and always be ready to be astonished!
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Oh, and remember, winners don't store junk. They store Victory.
🔒📚 Hi! I'm Eric Manning, a self-storage operations wizard 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! 📦😊🔑
Original Source: Twitter, Chris Tourtellotte (@CTourtellotte) source
Source: @CTourtellotte: LaTerra Development & WAY Capital win 🥇 best land development in the country at the 2023 IMN Single Family Rentals Industry Awards! The 344 unit, ~ $100M BTR development is the largest QOZ project in New Mexico. @mpdaviesway @ZackDStreit
URL: https://twitter.com/CTourtellotte/status/1731725734643966463
