In 2021, I worked on a career-defining $75M self storage deal that could have generated tens of millions in enterprise value for my company Bolt Storage.
But we lost it to a competitor...
It hurt!
Here's what happened:
The deal was for a 20 property portfolio (750K sq ft.)
The owner's brother-in-law follows me on X.
They wanted to sell their portfolio, so he called me to visit the properties to discuss buying them.
I went & loved the properties. I spent 4 hrs discussing the deal.
Why?
I knew the properties were worth more, especially if my team & I ran them for a few years.
So I talked to a few LPs & bankers to finance the deal, & made an offer (close to their asking price).
I was pumped. The deal would be my biggest & best yet. I thought I had it.