Why MSSF
- OPERATING SCALE
MSSF benefits from Forum Make Space’s combined operational expertise with over 25 years of operating history and a team of 100+ professionals located across Canada. - SUPERIOR RISK ADJUSTED RETURNS
Over the past 30 years, self-storage has benefited from the highest annualized total return and second lowest standard deviation of returns, among the major real estate asset classes.{{1}} - SECULAR TAIL WINDS
Driven by demographic trends including population growth, migration, urbanization and shrinking housing sizes. - SUPPLY / DEMAND IMBALANCES
Canada's self-storage market remains undersupplied with only ~3 square feet of self-storage per capita, ~2.5x less per capita than the USA, on average.{{2}} - OPPORTUNITY FOR CONSOLIDATION
The Canadian self-storage industry remains fragmented, with institutional managers having only ~30% market share of supply.{{3}}
Forum Make Space is a leading self-storage partnership that combines Forum's asset management experience with Make Space's full service self-storage operating platform. Make Space has invested in and operated self-storage and flex storage solutions since 2004. Together, Forum and Make Space manage in excess of C$2.0B and employ over 100 people.{{4}}
Value creation will be assisted by having a healthy exposure to assets in $5M - $50M+ value range.
We view this as an opportunistic range that is too high for individual investors and too small for institutional managers looking to deploy significant capital.
-
Forum Make Space is providing a combined initial sponsor commitment of $25M+.
-
Established Forum and Make Space track records driving growth through operational excellence and value add on-site densification. Short-term leases provide inflation protection and benefit from rising rental markets. {{5}}
-
MSSF has the right of first offer (“ROFO”) on a proprietary pipeline of new assets currently being developed by Forum Make Space.{{6}}
-
Delivering Extraordinary Outcomes™ for communities and their environments.{{7}}
Learn More About Self-Storage
Secular trends including elevated population growth, shifting demographics, and urban densification support the long-term, fundamental growth in demand for storage solutions.
Attractive Supply Ratio{{2}}
On average, Canadians have five square feet less storage per capita relative to their American counterparts. Reaching an American level of supply per capita would require building an additional ~190 million square feet of self-storage.
Fragmented Canadian Ownership{{3}}
The Canadian self-storage industry remains fragmented, especially in secondary markets, with institutional managers having only a ~30% market share of supply.
Evolution of Living Spaces{{8}}
Over time, living spaces transformed as median condo sizes dropped by 32% to 700 sq ft since 1990. Simultaneously, home management evolved, with a 292% increase in households using storage since 1986, from 2.7% to 10.6%. This reflects dynamic adaptation to changing lifestyles and the growing need for efficient space use in our homes.
Median Condo Size
Households Utilizing Storage{{9}}
Over time, living spaces transformed as median condo sizes dropped by 32% to 700 sq ft since 1990. Simultaneously, home management evolved, with a 292% increase in households using storage since 1986, from 2.7% to 10.6%. This reflects dynamic adaptation to changing lifestyles and the growing need for efficient space use in our homes.
Percentage of Households Utilizing Storage