In short: Suggested add: "consider self storage as a complement to the residential holdings and maybe something like an Extra Space EXR."
Extra Space Storage rents self-storage units. He suggested self-storage "as a complement to the residential holdings" — people store belongings when they move, downsize or rent — with Extra Space as one option.
27:41Maybe like a ventas or a well tower or even consider self storage as a complement to the residential holdings and maybe something like an extra space EXR or a public storage PSA. But for individual holdings, you're getting everything there. Monthly income, geographic exposure, coast to coast, you're operating in a lot of different sectors.
In short: #8, yield 4.5%. "The largest self-storage operator in the U.S. (by store count), managing over 4,000 properties." Three angles: capital-light fee income from "managing stores for other owners… without the need to own the real estate"; consolidation, since "the self-storage industry is still highly fragmented"; and the inflation mechanic — "because storage leases are usually month-to-month, they can adjust pricing much faster than office or retail landlords when inflation rises." The shortest lease term on the list, which cuts both ways.
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