Diamond Point Development

What Diamond Point Development does

Diamond Point Development (DPD) is a privately held real estate investment and operating firm that develops Class A self-storage facilities in supply-constrained, high-barrier-to-entry markets on the US east coast. Founded in 2009 and headquartered in Roswell, Georgia, the firm runs an end-to-end playbook covering site identification, municipal entitlement, construction oversight, lease-up, and ongoing asset management. DPD has developed 15 properties totaling more than one million square feet across Georgia, Maryland, New York, Connecticut, Massachusetts, and Maine, with completed facilities ranging from roughly 75,000 to 130,000 gross square feet.

The business operates a developer-plus-asset-manager model. DPD sources equity from "sophisticated global capital, family offices, and high net worth individuals" and on the operating side delivers completed facilities to the three largest US self-storage REITs — Extra Space Storage, CubeSmart, and Life Storage — which brand and operate the sites under their own flags. A minority of assets (Space Shop Covington and Riverdale, and the recently delivered Carmel Storage and Bridgeport Storage) are held or managed outside the major REIT channel, and at least one project (CubeSmart #5387, Poughkeepsie, NY) was executed as a co-development joint venture with Castle Hill Investors.

The firm is run by a tightly held team of fewer than ten professionals, with operating control residing in the Sommer family. Aaron Sommer leads portfolio growth and has built a $250M self-storage book at DPD, complemented by 20 years of prior capital-markets advisory experience and direct involvement in $500M+ of office and industrial transactions. The company takes development risk on each project, recycles capital through selective asset sales (Marietta, March 2022; Fayetteville, October 2023), and generates revenue primarily through development promote, asset management fees, and realized gains on dispositions. Pricing and deal structures are bespoke and not publicly disclosed.

Name

Diamond Point Development

Legal name

Diamond Point Development

Website

https://diamondpointdevelopment.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Diamond Point Development is a privately held, family-run real estate investment firm that develops Class A self-storage facilities in high-barrier east coast US markets for delivery to major operators like Extra Space, CubeSmart, and Life Storage, financed by family offices and high net worth investors.

Ownership category

akta.pro rank

Product category

Self-Storage Real Estate Development

NAICS

Industrial Building Construction (23621), Management of Companies and Enterprises (55111)

SIC

Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Self-Storage Property Management (BPAJAGAM), Self-Storage Facility Management & Operations (Third-Party Managed) (HSAKAGAI)

Keywords

• Self storage development
• Commercial real estate investment
• Property development services
• Real estate asset management
• Ground up construction

Headquarters

HQ city

Roswell

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Self Storage Development and Asset Management: DPD generates revenue through ground-up development of self-storage facilities and asset management of the portfolio. The majority of the portfolio was created through ground-up development. They identify properties, obtain entitlements, oversee construction, and manage assets through lease-up.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Diamond Point Development is a real estate investment and operating firm that performs end-to-end self-storage facility development, including site identification, entitlement acquisition, construction oversight, and asset management through lease-up and stabilization. The company develops Class A self-storage facilities in high barrier-to-entry markets on the U.S. East Coast, then partners with major national self-storage operators (Extra Space, CubeSmart, Life Storage, Space Shop) to operate the completed facilities. The majority of the portfolio is created through ground-up development funded by sophisticated global capital, family offices, and high net worth individuals.

Product overview

Diamond Point Development is a real estate investment and operating firm specializing in the acquisition and development of self-storage facilities. The company operates as a single unified offering—providing end-to-end self storage development services from site identification through asset management. DPD has developed 15 properties with over one million square feet of self-storage space currently under asset management. Their portfolio includes facilities branded under various operator partnerships including Extra Space, CubeSmart, Life Storage, and Space Shop, as well as company-branded facilities such as Bridgeport Storage and Carmel Storage. The majority of the portfolio was created through ground-up development in high barrier-to-entry markets with strong market fundamentals.

Differentiator

Problem solved

Functional benefit

Products and services

• Self-Storage Development and Asset Management Services
• Bridgeport Storage
• Carmel Storage

Quantifiable outcome

• $250M self storage portfolio built by Aaron Sommer
• +1 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Extra Space StoragecoreChannel Partner/ Reseller/ DistributorExtra Space Storage operates multiple DPD-developed facilities including locations in Lithonia, S. Portland, Schenectady, Frederick, Springfield, Kingston, and Auburn. DPD develops facilities that are then operated by Extra Space.
• CubeSmartcoreChannel Partner/ Reseller/ DistributorCubeSmart operates DPD-developed facilities including Poughkeepsie and Danbury locations. DPD develops and CubeSmart operates the completed facilities.
• Life StoragecoreChannel Partner/ Reseller/ DistributorLife Storage operates DPD-developed facilities including Marietta, Fayetteville, and Cascade Road locations. DPD develops and Life Storage operates the completed self-storage facilities.
• Space Shop Self StorageminorChannel Partner/ Reseller/ DistributorSpace Shop Self Storage operates DPD facilities in Riverdale and Covington, GA. These appear to be smaller-scale operations compared to the national chains.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Public Storage: Largest publicly traded self-storage REIT in the U.S. with national footprint. Comparable end-customer market and asset class as DPD, though Public Storage develops and operates internally rather than partnering with boutique developers like DPD.
• W. P. Carey: Diversified net-lease REIT with self-storage exposure (formerly owned a portfolio through subsidiary). Comparable as an institutional capital source and long-duration owner of net-leased/self-storage real estate, though its mandate spans many asset classes beyond self-storage.
• National Storage Affiliates: Public self-storage REIT with a differentiated participating-relationship model that integrates smaller operators. Broader self-storage market exposure relevant to DPD, though NSA's operating-partner structure differs from DPD's develop-and-sell model.

Direct peers

• CubeSmart: Public self-storage REIT operating two DPD-developed facilities (CubeSmart #5387 Poughkeepsie NY and #6067 Danbury CT). Same development-to-operator hand-off model as Extra Space, making it a direct comparable for Class A self-storage development on the East Coast.
• Extra Space Storage: Public self-storage REIT that operates seven DPD-developed facilities across multiple states (Extra Space #4023, #4024, #4025, #4026, #6160, #6180, #6633). Directly takes DPD's completed product, making it both a primary offtake customer and the most comparable public-market benchmark for DPD's asset class.
• Life Storage: Self-storage operator (acquired by Extra Space in 2023) that operated three DPD-developed facilities (Marietta, Fayetteville, Cascade Road). Historically a core channel partner and direct competitor for DPD-developed inventory before its consolidation into Extra Space.

Emerging players

• 1788 Holdings: Private self-storage developer/sponsor building institutional-quality facilities in select U.S. markets. Closest comparable to DPD in scale and operating model (develop-and-sell to operators) among emerging developers.
• Devon Self Storage Holdings: Private self-storage owner/operator that has both developed and acquired facilities on the East Coast. Similar niche developer-operator profile to DPD, though Devon also retains operating control rather than only selling to third-party operators.
• Storage Real Estate Partners: Boutique self-storage-focused real estate sponsor and developer. Highly comparable scale and operating model to DPD, focused on institutional capital deployment in self-storage development.

Others

• Harrison Street Real Estate Capital: Alternative asset manager investing across self-storage, student housing, senior living, and digital infrastructure. Comparable as a competing source of institutional capital for self-storage development and as an indirect acquirer of DPD-built product.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/diamond-point-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

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 Diamond Point Development