SLI Capital and Madison Capital Announce Deal to Purchase Controlling Interest in Green Space Self-Storage Company
February 5, 2024
Raleigh, NC (February 5, 2024) — SLI Capital CEO Bryan Kane and Madison Capital CEO Ryan Hanks announced this week that their firms have purchased a controlling interest in Green Space, a self-storage company with an innovative proprietary concept that constructs self-storage facilities out of stacked shipping containers.
Green Space is a real estate development and construction company providing cost reducing self-storage solutions with an emphasis on environmental conservation. Founded in 2015, Green Space holds US and European patents for its groundbreaking technology used to build multi-story, self-storage facilities out of shipping containers. The company’s designs result in significant construction cost savings and shorten typical construction schedules. Principals Rick Stockton and David Ledoux will continue to be involved in the company’s management.
“We believe that the Green Space technology provides profound innovation in the self-storage space and the investment alongside SLI Capital will provide the growth capital and operational expertise needed to take Green Space to the next level,” said Madison Capital CEO Ryan Hanks.
“Our goal is to grow the company rapidly due to its advantage in construction speed and superior basis while the balance of the traditional self-storage market is soft,” said SLI CEO Bryan Kane. “Through partnering with the Madison Capital team, we will have immediate operating expertise and scale enabling us to ramp up quickly.”
“We found the perfect partners in SLI and Madison. Their principals bring the capital markets knowledge and operations experience we needed to take our self-storage concept to new heights,” said Green Space founder David Ledoux.
The deal closed on February 2, 2024.
SLI Capital (SLI) is a Raleigh, NC based real estate investment and development firm. SLI employs an investment strategy that includes a variety of property types and capital structures. Since SLI’s founding in 2017, the firm has invested in projects with a total expected capitalization in excess of $1.5B. SLI has offices in Raleigh, NC and Nashville, TN.
Madison Capital Group is a Charlotte, NC based vertically integrated real estate investment and development firm with a primary focus on the Multifamily, Self-Storage and Boat and RV Storage sectors. The company was founded in 2009 with the purpose of creating a real estate venture that would seek opportunistic returns. A subsidiary, Go Store It, was founded in 2013.