Go big or go home. That saying is something that many of us have heard at one time or another—if not said. It’s all about being noticed and not just succeeding, but excelling. What it takes to do it is up to the person or person’s involved and why they feel the need to do it. Are they trying to win a tournament? Are they looking to become titans of industry?
Whatever the reason, if you succeed in going big more often than not what you want to achieve is achieved.
For example, what if you are a business—let’s say, in the self storage industry—and you are looking to remain one of the titans in the field. If you are already a titan than you must be pretty big so if you are going to make some sort of move to reaffirm that status or enhance it you have to go big.
Extra Space Storage certainly did just that with a deal the self storage company recently completed—17 facilities in Virginia for $200 million. The company also has another five facilities under for $58 million.
“Extra Space Storage is a growth-oriented company and the addition of these assets to our portfolio will continue to allow us to provide strong returns to our shareholders. We are excited by the quality, location and growth potential of the acquisitions we made in 2013,” Spencer F. Kirk, the Company’s Chairman and Chief Executive Officer stated.
As of December 31, 2013, Extra Space Storage had purchased 78 facilities in the last year for $586 million.
Spending close to $600 million in real estate transactions would not be going big for an individual or small business; that would be going huge! Going big for individuals does not take nearly as much to qualify. If you manage to raise over $10 million via crowd funding for the purpose of purchasing self storage properties that would qualify.
Jilliene Helman, Realty Mogul’s co-founder and CEO, recently accomplished that milestone. For her efforts she made Inman News’ list of the top 100 most influential real estate leaders for 2013.
“Honors like the Inman Top 100 list certainly assist in our efforts to increase investor awareness of our platform and to continue to bring high-quality project sponsors to the site,” said Helman. “We believe that our online accredited crowdfunding model fills a very real need both for project sponsors searching for new financing sources and for investors who may not have previously had access to these sorts of commercial and residential real estate opportunities…”
“Extra Space Storage Announces $200 Million Portfolio Acquisition.” PRNewswire; 08 January 2014.
“Realty Mogul CEO Named To List of 100 Top Real Estate Leaders.” PRNewswire; 07 January 2014.