The Ardent Companies Executes GP-led Self-Storage Portfolio Continuation Vehicle
Tuesday, July 21st, 2026
The Ardent Companies (Ardent), a privately held real estate firm based in Atlanta, today announced the successful closing of a continuation vehicle seeded with eight self-storage assets. The transaction includes seven assets from Ardent’s Self-Storage Development Fund II and one asset from Self-Storage Development Fund I.
“The transaction represents a key milestone in our funds’ respective lifecycles,” said Thomas Olson, Partner and Head of Self-Storage Strategy for Ardent. “It delivers the final resolution of Fund I’s remaining self-storage investment and marks a significant first exit for Fund II investors, positioning the fund for strong overall success. We are also thrilled to partner with StepStone, a leading institutional investor, to build on the momentum of this transaction and continue scaling the strategy.”
The newly-formed continuation vehicle will focus on completing the lease-up and optimizing the operations of the seed assets. Ardent will remain as the day-to-day asset manager of the portfolio and GP of the vehicle, ensuring strong alignment and operational continuity through the next phase of execution. The continuation vehicle includes unspecified commitments to acquire assets that align with the vehicles investment thesis of acquiring high-quality assets in low supply markets.
“We are pleased to partner with Ardent on this GP-led continuation vehicle, which reflects our strategy of providing flexible capital solutions to high-quality real estate platforms,” said [John Waters, Partner and Co-Head of Investments] at StepStone Group. “The portfolio consists of newly developed, institutional-quality self-storage assets in supply-constrained, high-barrier markets and offers a compelling opportunity to invest at a transitional point in the assets’ lifecycle, where lease-up and operational optimization can drive meaningful value creation. We look forward to supporting Ardent as they execute on the next phase of growth.”
In addition to the continuation vehicle, Ardent will continue expanding its self-storage development platform through Self-Storage Development Fund III. Currently, Ardent has two projects recently delivered, four projects under construction and two additional projects in pre-development, supporting the continued development of Class-A self-storage projects in high-demand, supply-constrained U.S. markets.
JLL advised on the transaction. Legal counsel was provided by Latham & Watkins LLP and Greenberg Traurig LLP. Financing was provided by Acore Capital.
To learn more about Ardent, visit theardentcompanies.com.
