This article originally appeared on Sparefoot.com.

A real estate investment firm in Southern California has brought aboard a self storage industry veteran to lead the formation of a storage portfolio comprising at least 100 facilities.

James Hanrahan, former managing partner of Orange, CA-based RHW Capital Management Group LLC and former partner of RHW’s Store Here Self Storage Management LLC, recently joined The Beverly Park Group as managing principal and director of self-storage acquisitions.

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“Bullish” on Secondary Markets

Hanrahan said The Beverly Park Group, based in Newport Beach, CA, plans to …

Getting through the oversupply hangover

… due to the operational instability of the properties. Therefore, he said, potential buyers are passing over these facilities for certificate-of-occupancy acquisitions.

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Self Storage Expertise On-Deck

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Most notably, William Lappas, co-founder and managing principal of The Beverly Park Group, helmed a joint venture between Store Here and Los Angeles, CA-based investment manager Westport Capital Partners LLC that sold a 27-facility, six-state portfolio in November 2017 to Greenwood Village, CO-based REIT National Storage Affiliates Trust.