BlueGate Boat and RV Storage, an affiliated company of Madison Capital Group, has acquired Davie RV Storage, a three-property portfolio in Winston-Salem, NC, further expanding its footprint in the Southeastern United States.
The three properties feature a newly built, stabilized portfolio with 281 parking spaces (159 covered) across 7.51 acres.
“We are thrilled to add this Boat and RV storage portfolio to our BlueGate platform,” said Banks Brown, Acquisitions Associate at BlueGate. “Growing our presence in our home state was extremely important to us, especially with our existing assets in Mooresville, NC, just 45 minutes away. This acquisition allows us to provide high-quality storage solutions to the residents of Winston-Salem, Bermuda Run, Clemmons, and Advance, who face HOA restrictions on recreational vehicle storage.”
The Winston-Salem portfolio currently sits at 88% occupancy, demonstrating strong demand in a market characterized by a shortage of storage options. The properties are strategically located along Highway 158, which sees over 12,500 vehicles daily.
BlueGate will leverage its local presence to manage the facilities effectively while exploring additional expansion opportunities.
“With the robust population of RV dealers and resorts nearby, as well as favorable economic conditions in the Triad region, this acquisition positions us well for future growth,” said Brown. “We are committed to delivering exceptional customer service and generating superior returns for our investors.”
BlueGate Boat and RV Storage focuses on developing institutional-quality, covered parking facilities throughout the Southeast. It also targets value-add acquisitions and ground-up development opportunities.
About Madison Capital Group
Madison Capital Group, headquartered in Charlotte, N.C., specializes in real estate investments, focusing on the self-storage and multifamily sectors. The company is the parent entity of Go Store It Self-Storage, a non-traded direct investment sponsor emphasizing self-storage, and Madison Communities, a vertically integrated real estate development and investment firm dedicated to crafting high-quality, suburban, garden-style apartment communities throughout the Southeast. For more information, visit madisoncapgroup.com.
