The ownership of Liberty Self-Storage engaged The McEnery Company to provide appraisals of their entire portfolio of assets to assist in estate planning purposes. Specifically, our assignment involved the appraisal of twelve self-storage locations owned by Liberty Self-Storage, the dominant self-storage player in the St. Tammany Parish market. The portfolio consists of facilities typically offering both climate and non-climate controlled units. The largest facility in the portfolio consisted of over 1,100 self-storage units. The appraisal of these twelve properties was based on an analysis of each asset individually, with no consideration for business enterprise value (BEV) or market share typically associated with a portfolio of this significance. Our self-storage work has become a mainstay in our regular operations, and in recent years, we have completed both AS IS and Prospective appraisals of self-storage facilities located in Shreveport, Lake Charles, Baton Rouge, multiple properties in the Florida Parishes, multiple properties in the New Orleans MSA, as well as storage properties located on the Mississippi Gulf Coast. In all cases, our valuation always includes a localized competitive market study, with the ultimate income capitalization analysis being paired to an extensive database of storage facility sales from across the region.
