3.00
Reliant Real Estate Management Website
Reliant Real Estate Management Overview
Reliant Real Estate Management, a top self-storage operator, offers high-quality investments in this booming market to accredited investors. Reliant Real Estate Management, LLC ("Reliant"), founded in 2010 and headquartered in Roswell, GA, is a fully integrated owner and operator of self-storage facilities. As of August 2024, Reliant ranks as the 16th largest self-storage operator in the United States with over $1.6 billion AUM. The company’s portfolio spans 9 states and comprises more than 100 properties, 60,000+ units, and over 8 million net rentable square feet. Reliant specializes in the acquisition of existing value-add and opportunistic self-storage facilities, as well as the development of ground-up Class A self-storage facilities in secondary and tertiary markets across the United States. The company's vertically integrated structure enables it to control the full lifecycle of its assets, from investment and acquisition through development, management, and eventual disposition. The integration of Reliant's Investments, Acquisitions, Development, and Operations teams promote synergies across the lifecycle of the asset, fostering active market intelligence, while complementing the totality of the business plan. Leveraging its deep expertise in acquisition and operational management, Reliant focuses on repositioning value-add properties to optimize occupancy and rental rates. This disciplined approach is designed to maximize returns upon divestment, aligning with the investment goals of its partners. Reliant is well positioned for future growth through strategic acquisitions and innovations, aiming to expand its market presence and continue delivering strong returns for its investment partners.
Address
1146 Canton Street
Roswell,
Georgia
30075
Year Founded
2006
Operates In
Alabama
Colorado
Florida
Georgia
Arkansas
Asset Classes
Storage
Accepted Investors
Accredited
Qualified Purchaser
Institutional
Family Office
Pascal W.
3.00
"Good Operator, Bad Vintage — Supply Killed Us"
I invested $50K in Reliant Self Storage Fund III (Class C) in early 2022. The fund targeted a $100M raise across 30 self-storage properties in secondary and tertiary markets — primarily Georgia, the Carolinas, Florida, and Alabama. The thesis was value-add: acquire existing facilities, add climate-controlled units, push rents, and exit at a 5.25% cap rate over a 6-year hold. Projected returns were 12–15% annualized with an 8% preferred return and a 70/30 investor/manager split. Before investing, I spoke with the Reliant team multiple times, reviewed their track record (33.8% average IRR across 38 exited properties, 2.57x average equity multiple), and talked to two LPs who had been in Funds I and II. Fund I had realized a 1.64x multiple in under two years. The numbers checked out, and the operator had a decade of self-storage experience as the 27th largest operator in the U.S. Here's what happened: we went in at a 3.12% going-in cap rate on a portfolio of ~19,300 units across 30 properties with 65–70% leverage. When capital was cheap in 2021, everyone and their brother started building self-storage. The supply wave hit our target markets hard. We are nowhere near our target occupancy on most of the portfolio, and the planned expansions — the core of the value-add thesis — haven't started on almost any of the facilities. The fund projected 4–7% annual cash-on-cash during the hold period, and we're well below that. Communication has been solid throughout — monthly updates, financials, photos, and the team is accessible. I don't question the operator's competence. If you look at their other funds, they're performing. I just got caught in the wrong vintage. When money was cheap, too much supply flooded the market, and that's something I didn't underwrite properly. Lesson for other LPs: I didn't model supply risk seriously enough. I looked at the operator's track record, the pref, the leverage — all the standard diligence. What I missed was how much new self-storage inventory was being built in our target MSAs during the same period. If you're evaluating a value-add self-storage deal, the single most important question is: how much competitive supply is under construction or permitted within a 5-mile radius? I would invest with Reliant again in a different market cycle. This one just hurt.