By the end of 2017 — less than one year after its first acquisition — City Line Capital LLC’s self-storage portfolio should be well over 1 million rentable square feet. And the Bala Cynwyd-based self-storage investment firm shows no signs of slowing its brisk pace for acquisitions, writes John Egan for sparefoot.com.

In fact, if things keep proceeding the way they are now, City Line Capital could own more than 60 facilities in just three years’ time. At that level, the firm likely would be among the country’s 20 largest self-storage owners, based on 2017 figures.

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Rick Schontz, the firm’s managing partner, said that on a rolling 12-month basis, City Line Capital plans to spend $50 million per quarter on deals, mostly acquisitions of existing facilities. That adds up to $200 million, or 20 to 25 facilities, over a 12-month span.

Given the ready access to a stream of capital from City Line Capital’s equity partner, Schontz said his firm can be “fairly competitive” in chasing deals.

Matt Weckesser, director of acquisitions, said City Line Capital has quickly grown from a well-conceived idea to “a machine that is becoming more and more well-oiled. We want the market to know that we’re out there aggressively looking for more opportunities.”

City Line Capital’s equity partner has given the firm a 10-year window for making acquisitions, Schontz said. As such, he and his colleagues don’t feel pressured to bundle properties and sell them as a portfolio in, say, three years. Potential exit strategies include going public or being acquired by another operator, Schontz said.

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