GreenSpace Holdings Enters into Recapitalization and Development Agreement
with Texas Self-Storage Investment Company
Houston, Texas – January 4, 2018 - GreenSpace Holdings, LLC (GSH) is pleased to announce today that it has entered into the second phase of its six-phase business strategy by agreeing to terms with a well-known self-storage investor in the State of Texas (Investor). The agreement calls for GSH to build at least 50 multi-story, climate-controlled self-storage facilities using the GSH patents-pending designs within the United States over the next 8 years.
GSH and the Investor will own these facilities, the vast majority of which will be held as part of a long-term investment strategy.
"I can't tell you how pleased we are to have entered into an agreement of this magnitude with such a high net-worth investment group", said GreenSpace Holdings Chief Financial Officer and co-founder, David Ledoux. He added, "we have been working on this deal for several months and we feel very comfortable with not only the terms of the agreement, but more importantly with the integrity and character of our Investor. Getting a deal like this done within 24 months of start-up speaks volumes to the depth and sustainability of our intellectual property, and we just couldn't be more pleased."
GSH co-founder Rick Stockton added, "The opportunity to build 50 stores for one investor is exciting, but we are also pleased that this transaction provides us with the resources to build facilities for other investors and developers who have either already contacted us about their projects or for those who learn about us in the future."
GSH has already begun vetting properties in not only the Houston area, but also in the South, Midwest and Pacific Northwest areas of the country .