September 9, 2016
Los Angeles-based Stockdale Capital Partners, London-based Grosvenor Group, and San Diego-based Ace Parking Management formed an institutional partnership to acquire, own and manage high quality parking structures and surface lots across the Southwest U.S. The group plans to target income-producing parking garages in infill, high-traffic submarkets, and garages attached to hotels and office buildings that can be acquired and managed independently.
Additionally, it will consider surface lots in supply-constrained markets where parking operations can be executed. The group already has a solid initial pipeline of opportunities, and expects to announce acquisitions soon.
Stockdale Capital Partners’ Daniel Michaels says, “Parking assets are a highly-fragmented, often under-brokered submarket with very little institutional ownership today.”
For comments, questions or concerns, please contact Dennis Kaiser