US EditionSILVER STAR PROPERTIES REIT ADVANCES STRATEGIC PIVOT WITH SELF-STORAGE GROWTH AND BROAD OPERATIONAL TURNAROUND AND EXPANSION
- Silver Star Properties REIT announced continued progress on May 23, 2025, in Houston, pivoting toward a premier self-storage investment platform.
- The pivot responded to legacy challenges under prior leadership, including tenant grievances and structural neglect, requiring urgent operational changes.
- David Strickland, who oversees asset management, spearheaded the strategic shift by arranging essential repairs, ending ineffective vendor agreements, internalizing operations, and directly addressing tenant concerns.
- Net operating income grew significantly between the first and second quarters of 2025, increasing from just over $21,000 to more than $30,500. During the same period, occupancy rates improved from 64% to 77%, and the property achieved a square footage occupancy level of 92.5%.
- Silver Star is joining forces with Emerson Equity, LLC to secure $50 million through a preferred equity offering aimed at acquiring self-storage properties and advancing the company’s development into a scalable platform prepared for public investment.
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47 Articles
SILVER STAR PROPERTIES REIT ADVANCES STRATEGIC PIVOT WITH SELF-STORAGE GROWTH AND BROAD OPERATIONAL TURNAROUND AND EXPANSION
HOUSTON, May 23, 2025 /PRNewswire/ -- Silver Star Properties REIT, Inc. ("Silver Star" or the "Company") today announced continued progress in its transformation into a premier self-storage investment platform. The Company's proactive pivot, led by Director of Asset Management David Strickland, is delivering measurable results across operations, finance, and portfolio management. "As Silver Star advances with the momentum we have gained by shed…
Silver Star Properties REIT, Inc. Releases Exclusive Podcast Interview with former General Counsel Adrienne Collins
HOUSTON, May 23, 2025 /PRNewswire/ -- Silver Star Properties REIT, Inc. ("Silver Star" or the "Company"), a self-managed real estate investment trust currently repositioning into the self-storage asset class, is pleased to announce the release of a new episode of…
SILVER STAR PROPERTIES REIT ADVANCES STRATEGIC PIVOT WITH SELF-STORAGE GROWTH AND BROAD OPERATIONAL TURNAROUND AND EXPANSION - PressReach
HOUSTON, May 23, 2025 /PRNewswire/ — Silver Star Properties REIT, Inc. (“Silver Star” or the “Company”) today announced continued progress in its transformation into a premier self-storage investment platform. The Company’s proactive pivot, led by Director of Asset Management David Strickland, is delivering measurable results across operations, finance, and portfolio management. “As Silver Star advances with the momentum we have gained by shedd…
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