4 MIN READ
January 25, 2026
One of the most important strategic decisions we’ve made for Fund III is to partner with best-in-class third-party managers that have platforms with the operational scale, systems, and data to run facilities efficiently across the country.
These platforms, like Extra Space Storage, are great at what they do. They take the ball about 80% of the way down the field.
But what makes this model work for us is what happens next.
We’ve built an internal asset management team whose sole focus is on that last 20%—the nuanced, deal-specific execution that can significantly impact performance. Our team works closely with our operating partners to make decisions on pricing, unit mix, leasing velocity, and trade area strategy.
The result?
We get the institutional infrastructure of the largest operators—plus the precision and oversight of a hands-on development team that’s underwriting every deal with real-world operating data.
And that data is critical.
Through these partnerships, we’re gaining insight into:
- Achieved in-place rents by unit size and submarket
- Multi-year pricing trends and absorption curves
- Demand patterns that reveal the most sought-after unit types
- Localized intel, like security or delinquency concerns, that don’t show up in spreadsheets
This depth of insight increases our confidence in underwriting, improves our performance assumptions, and helps us de-risk execution wherever we decide to deploy capital.
Up Next: A Conversation with Extra Space President Noah Springer
On Friday, January 30, I’ll be hosting a webinar with Noah Springer, President of Extra Space Storage, our largest third-party partner. We’ll discuss where we are in the current self-storage cycle—and how it compares to prior development cycles. Noah and I will walk through how both DXD and Extra Space are thinking about risk, supply constraints, capital deployment, and opportunity across market environments. Whether you’ve invested with us or are considering it, I think you’ll find this conversation especially timely.