What Lockhart Management Group does

Lockhart Management Group (LMG) is a privately held Florida-based real estate development and acquisition firm founded in 2015 by James Lockhart. The company specializes in developing Class-A, institutional-quality self-storage facilities in high-growth US submarkets, with a primary concentration in Florida and additional projects in Tennessee, Arizona, and Oklahoma. LMG's core product is end-to-end self-storage development encompassing site selection, underwriting, construction, lease-up, and disposition to institutional buyers; the company also operates the Lockhart Storage Centers brand for owned facilities and a wholly-owned construction subsidiary, 116 Construction LLC (Boca Raton, FL), which provides internal construction management capacity.

The business model is a build-to-sell developer model: LMG acquires or partners on land, develops a Class-A facility, stabilizes it through lease-up, and sells the stabilized asset to institutional self-storage operators including Prime Storage, HPI Real Estate Services & Investments, Value Store It Self Storage, and Storage King USA. Revenue is generated through one-time sale proceeds on completed facilities, with sales intermediated exclusively by Top Hat Commercial Real Estate (Brian Fulton). Pricing and individual deal economics are not publicly disclosed. The go-to-market is relationship-driven, with all 26 properties to date originating from a referral network of general contractors, co-developers, architects, and industry contacts, supported by a proprietary in-house development technology platform and a site selection toolset featuring point-and-click market capture and customer satisfaction tracking.

More recently, LMG has begun diversifying beyond self-storage into multifamily and build-to-rent residential development in Florida, with three current projects (Goulds at 300 units, Mason's Ridge at 112 units, and McCabe at 470 entitled sites) leveraging the same referral-based deal sourcing and 116 Construction execution capabilities. The company employs 1-10 people, is founder-led without disclosed institutional investment beyond a $7.5M funding event in 2020, and emphasizes strict underwriting and multi-party due diligence as its primary risk management framework.

Name

Lockhart Management Group

Legal name

Lockhart Management Group, Inc.

Website

https://lmgventures.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Lockhart Management Group is a Florida-based private real estate developer founded in 2015 that builds Class-A self-storage facilities and sells them to institutional operators, with 26 projects completed across Florida, Tennessee, Arizona, and Oklahoma, and a recent expansion into multifamily development.

Ownership category

akta.pro rank

Headquarters

HQ city

Bradenton

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Self-Storage Facility Development and Sale: Lockhart Management Group develops Class-A, institutional-quality self-storage facilities and sells them to institutional buyers upon completion or during lease-up. Revenue is generated through the sale of completed properties to operators such as Prime Storage, HPI Real Estate, Value Store It, and Storage King USA.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Lockhart Management Group (LMG) is a self-storage development and acquisition company that builds Class-A, institutional-quality self-storage facilities in high-growth US markets (primarily Florida) and sells them to institutional operators and investors. The company manages the full development lifecycle from site selection and underwriting through construction (via its 116 Construction subsidiary) and disposition, and has begun expanding into multifamily and build-to-rent residential development.

Product overview

Lockhart Management Group (LMG) is a self-storage development and acquisition company that operates primarily in Florida's fastest-growing submarkets. The company offers a unified platform for developing institutional-quality, Class-A self-storage facilities, managing the full lifecycle from site selection through construction and sale. Core offerings include self-storage development and acquisition services, executed through the company's 116 Construction subsidiary for project delivery and Lockhart Storage Centers as the facilities brand. The portfolio includes completed self-storage facilities across Florida (Riverview, Davenport, St. John's, Land O' Lakes, Panama City, Loxahatchee Groves, Lake Park, Fort Myers, Margate, Daytona Beach, Clearwater, Wesley Chapel, Palm Harbor) as well as out-of-state locations (Nashville TN, Phoenix AZ, Edmond OK, Anthem AZ). LMG has expanded into multifamily development with three current projects (Goulds, Mason's Ridge, McCabe) and utilizes proprietary in-house development technology for site selection and market analysis.

Differentiator

Problem solved

Functional benefit

Products and services

• Self-Storage Facility Development and Acquisition Development and sale of Class-A institutional-quality self-storage facilities, including site selection, underwriting, construction oversight, and disposition to institutional buyers such as Prime Storage, HPI Real Estate, Value Store It, and Storage King USA.
• 116 Construction Construction management services exclusively for Lockhart Management Group projects, covering self-storage, multifamily, and commercial developments using a hands-on, self-performing approach.
• Lockhart Storage Centers Operated self-storage facility brand offering Class-A institutional-quality climate-controlled and conventional storage units across multiple Florida markets.
• Multifamily and Build-to-Rent Development Multifamily and build-to-rent residential development projects in Florida, including Goulds (300 units), Mason's Ridge (112 units), and McCabe (470 entitled sites).

Quantifiable outcome

• 26 projects completed since 2015, currently celebrating start of 26th project

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• Top Hat Commercial Real Estate (THCRE)coreGTM or Marketing PartnerStrategic alliance with Top Hat Commercial Real Estate, a boutique brokerage and development consulting firm headquartered in Tampa, Florida. Brian Fulton of THCRE serves as exclusive broker on all property transactions, including recent sales to Prime Storage, HPI Real Estate, and others. The partnership focuses on developing and delivering best-in-class storage facilities in Florida's most dynamic markets.
• 116 Construction LLCcoreOthers116 Construction LLC, headquartered in Boca Raton, Florida, exclusively manages all construction projects for Lockhart Management Group. With over 75 years of combined experience, the team specializes in self-storage, multifamily, and commercial developments using a hands-on, self-performing approach.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Prime Storage: Self-storage owner/operator that has acquired multiple LMG-developed Class-A facilities (Davenport, Loxahatchee Groves). Comparable as both a buyer-counterparty and a competitor for institutional storage assets in the same geographies.
• Storage King USA (Andover Properties): Self-storage operator and acquirer of newly built Class-A facilities; bought LMG's Margate property at CO in 2022. Direct peer as an institutional buyer/operator competing for the same Class-A pipeline.
• HPI Real Estate Services & Investments: Real estate acquirer of LMG's St. Johns and Riverview Class-A self-storage facilities. Directly comparable as an institutional self-storage buyer active in the same Florida submarkets.
• Value Store It Self Storage: Self-storage operator that acquired LMG's two Clearwater facilities in 2022. Direct peer as a regional institutional buyer of newly developed Class-A storage.
• US Storage Builders: Self-storage developer specializing in build-to-sell Class-A facilities to institutional buyers, similar development-and-exit model with national reach, overlapping customer base of self-storage REITs and operators.

Broad incumbents

• Extra Space Storage: Public self-storage REIT that manages an LMG-developed St. Johns facility. Broad incumbent acquirer/operator of Class-A institutional self-storage across the U.S., comparable as a deep-pocketed exit channel.
• Public Storage: Largest U.S. self-storage REIT. Relevant broad incumbent whose capital allocation to acquisitions influences demand and pricing for LMG's build-to-sell pipeline.

Others

• Top Hat Commercial Real Estate: Exclusive broker for LMG transactions handling buyer sourcing on every facility sale. Functionally an embedded GTM partner, comparable as a Florida-focused self-storage brokerage/development consultancy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/116-construction-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lockhart Management Group