Who we are
A husband-and-wife team, building for the long run.
Tom and Sara Beth Reaves started Palmetto Crescent Holdings out of Fernandina Beach, Florida, with a straightforward approach to real estate: find well-located self storage facilities that are underperforming or under-marketed, put in the work to run them properly, and hold them for the long haul.
We're not a fund chasing quick flips. We look for facilities we can improve, refinance, and build on: the BIRD method, Buy, Increase value, Refinance, Do it again. We treat every seller and broker relationship as the start of something ongoing, not a one-time transaction.
What we buy
- Purchase price: up to $3,000,000
- Cap rate: 6% minimum
- Size: 5,000 to 60,000 sq ft, Class B or C
- Asset types: drive-up, climate-controlled, and RV / boat / vehicle storage
- Where: Florida, Georgia, South Carolina, and North Carolina, within a 1-hour drive of a city or metro area of 50,000+ people
- Structure: flexible terms; owner / seller financing welcome
See the full criteria on our homepage or download the buy box (PDF).