ICM Bluebird Canadian Self Storage

ICM Bluebird Canadian
Self Storage Fund

What We Do Funds ICM Bluebird Canadian Self Storage

ICM Bluebird Canadian Self Storage is the only storage fund in Canada focused on Class A assets in major markets. The Canadian storage market is undersupplied, and the fund was built to consolidate a portfolio of institutional quality assets from coast to coast.

Fund Philosophy

Canada’s rapidly growing population and undersupply of available self-storage will continue to drive demand in a defensive asset class that outperforms the market during turbulent periods. Consumer preferences are evolving, favouring newer stores in more urban locations, and Class A assets like those held by the fund represent the future of the industry.

Fund Highlights

With 11 assets acquired or under contract in four primary and secondary markets from British Columbia to Quebec, the fund’s total assets currently sit at more than $200 million. The fund offers a blend of strategies, including lease up, repositioning and development, in a closed-end structure focused on capital growth over a holding period of five to seven years.

Track Record

Launched in early 2023, to date the fund has grown to own and control assets with a total value exceeding $200 million.

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Investment Strategy

01 Partially Leased Class A Facilities

Acquire new, but not yet stabilized, properties and lease vacant units

02 New Class A Facility Development

Identify new sites, develop new facilities and lease to stabilization

03 Non-Professionally Managed Class B Assets

Renovate and reposition the assets by applying Bluebird’s professional management platform

04 Realize a Portfolio Premium on Exit

Build a portfolio by rolling up existing Bluebird-operated stores to achieve a portfolio premium upon exit

Portfolio Highlights

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