Storage Post Announces Executive Team Enhancements for Long-Term Growth Company augments operational capabilities and establishes development business unit
ATLANTA, May 14, 2013 /PRNewswire/ -- Storage Post Self Storage announced organizational changes designed to strengthen the firm for long-term success. They include the appointment of experienced real estate executive Marvin Banks to the Chief Operating Officer position, as well as the creation of a business unit dedicated to development, which will be led by self storage industry and Storage Postveteran Jack Chaney.
"As we stage Storage Post for further growth, we are investing in key competencies required to support the company in the future," said Bruce Roch, Storage Post's CEO. "Our investors and executive team believe we have entered a market ripe for growth in the self storage segment. We are seeing unprecedented levels of both acquisition and new development opportunities, and need to ensure we have the right leadership and operational structure in place to fully maximize both of those."
As COO, Marvin Banks will work closely with Roch, who remains fully engaged in all acquisitions, developments, and company operations. Banks will oversee operations of Storage Post's network of self storage facilities in addition to operations for the Storage Post management company.
"Storage Post is a recognized leader in the sector with competitive advantages that allow us to capitalize on arbitrage opportunities in the space market via proprietary operating protocols and in the capital markets via our experienced relationships and proven track record," said Banks. "I am privileged to join the Storage Post team, which is clearly ahead of the curve, and help lead the value creation efforts as we evolve."
Banks has more than 25 years of experience in real estate, most recently as the President and Chief Financial Officer of Cortland Partners, where he remains a corporate advisor. He previously spent over a decade in executive leadership positions for Gables Residential, where Banks was instrumental in the sale of the company to ING Clarion in 2005. He has also served Trammell Crow Residential and Ernst & Whinney (now Ernst & Young). Banks is active in the Atlanta business and philanthropic community, including currently serving as a Director for Private Bank of Buckhead, as a member of the Finance Committee for the Children's Museum of Atlanta, and formerly on the Board of Directors for the Fulton County Boys & Girls Clubs.
Roch further comments, "Adding Marvin to our executive leadership team ensures we have the capacity to both grow and to continue operating our business to the standards of excellence our investors and customers have come to expect. It also allows Jack Chaney to focus on his passion for developing new properties, which is central to our growth strategy. Jack and I have been business partners in the self storage industry for 20 years, and I trust no one more than Jack when it comes to creating a world-class real estate development business."
Chaney has served as Storage Post's COO since 2010 and was instrumental in shepherding the company through the integration of several large acquisitions. He has more than 20 years of experience in the self storage industry, where he has served in many roles including Chief Financial Officer, Chief Development Officer, and Chief Operating Officer. Chaney's deep development expertise stems from his tenure as Chief Development Officer for Safeguard Self Storage and as COO for Storage Post, where he has deployed over $435 M of aggregated institutional capital and built more than 70 new self storage properties.
"Establishing Storage Post as a leading developer of new self storage facilities is a core to our business strategy. Marvin joining the team allows me to initiate and rapidly scale that side of the business for Storage Post – a challenge I have long been looking forward to," said Chaney.
Chaney, who resides in New Orleans, previously served on the Board of Directors for the St. Paul's Episcopal School and advised Louisiana State University during the rebuilding of their Medical Center in New Orleans following its devastation by Hurricane Katrina.
About Storage Post
Headquartered in Atlanta, GA, Storage Post is a leading self storage company that focuses on quality products, operational excellence and positive customer service. Storage Post has locations along the East Coast and throughout the South, and is actively pursuing self storage acquisitions. For more information on Storage Post, visit www.storagepost.com.
SOURCE Storage Post Self Storage