CBRE

Two self-storage experts—Merit Hill Capital’s Liz Schlesinger and CBRE’s Nick Walker—discuss the sector's strong long-term fundamentals and near-term challenges facing this resilient asset class, including a tepid housing market. Share these insights about the self-storage industry fundamentals:&nbsp;<ol><li>Operators understand the customer: Self-storage customers prioritize proximity and convenience over amenities.</li><li>Data plays a huge role: Savvy investors use data to inform site selection and identify market trends such as the increasing demand for units in urban areas.</li><li>The housing market impacts demand: Investors should be aware of the potential risks and opportunities associated with housing market fluctuations.</li><li>Operational expertise required: Self-storage relies heavily on operational expertise to maximize returns.</li></ol>

Liz Schlesinger is the founder and CEO of Merit Hill Capital, which was founded in 2016 and is now the eighth-largest owner of self storage in the U.S. Liz has been investing in the self-storage sector exclusively since 2006, when she co-founded the self-storage investment platform at W.P. Carey. Over the course of her career, she has evaluated over 11,000 self-storage acquisitions consisting of more than 7,600 properties and totaling over $33 billion in asset value and has sourced and executed 378 self-storage investments, acquiring 620 separate self-storage properties; completed 20 full cycle portfolio and single-asset exits of 147 properties, realizing significant returns on the investments she made; and 267 separate financings comprising more than 888 properties, altogether totaling more than $10 billion in self-storage transaction volume. Liz graduated Phi Beta Kappa and summa cum laude from the University of Pennsylvania and received her M.B.A. from Harvard Business School.

Liz Schlesinger

Founder & CEO, Merit Hill Capital

Nick Walker specializes in the ever-growing self storage industry throughout the United States. Among the variety of client types that Nick represents are individuals, syndicators, as well as corporations, financial institutions, real estate investment trusts, pension funds, endowments and domestic and international investors. He has overseen and taken part in self-storage transactions totaling over $6 billion throughout his years in commercial real estate.

Nick Walker

Vice Chair, Self Storage, Capital Markets, CBRE

Keepsake: A look inside self storage's fundamentals

What matters most right now in Commercial Real Estate. Business leaders join economic, industry and subject matter experts to share their distinct views and latest thinking. The Weekly Take is hosted by Spencer Levy, CBRE’s Senior Economic Advisor and Global Client Strategist. More at cbre.com/TheWeeklyTake