Michael Frede
Milwaukee, WI (USA)
Role(s):
King Storage, LLC
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Startup
Location:
Milwaukee
Industry:
Real Estate
Year Founded:
1990
Number Employees:
INVALID
Description:
The plan starts with Caleb Acquisitions, LLC (owned by the Frede Trust), which identifies Brownfields (abandoned or underutilized properties with real or perceived environmental conditions) that are qualified candidates for self storage. Historically, a single-asset LLC (owned by the Frede Trust) is created to hold each property until they’re restored and prepared for development, thus insulating King Storage from the liabilities. After being acquired, they are restored by Drake Environmental, Inc. (an environmental and development consulting firm also owned by the Frede Trust). At that point, the properties are transferred into the King Storage portfolio where they are developed with state-of-the-art self storage facilities.
This unique ability to acquire and restore Brownfield’s in