Pinnacle Storage Properties, a Houston-based firm that operates 10 Texas self-storage facilities under various names, has hired Ross Smolen as its new small-business underwriter and financial analyst. He’ll be responsible for underwriting all transactions by evaluating loan-to-value and debt-coverage ratios, analyzing business history, and looking at long- and short-term projections. Pinnacle is actively exploring all potential self-storage acquisitions, according to a press release.
“We are very excited to welcome Ross to our team. Not only will he bring an elevated level of financial logistics to Pinnacle Storage Properties, but he will also be a go-to contact for underwriting and commercial real estate expertise,” said CEO John Manes.
Smolen is a licensed real estate agent with experience in commercial brokerage and construction management. He’s a graduate of the Cyvia and Melvyn Wolff Center for Entrepreneurship at the University of Houston. While studying, Smolen led Exostretch, a technology-transfer startup surrounding a stretchable, thin-film battery. Exostretch participated in the National Science Foundation’s IN-LA Blitz Program, an educational curriculum, in which he was provided with an experiential learning opportunity to determine the commercial readiness of technologies, develop a clear go/no-go decision regarding commercial viability, and create a transition plan to move technology to market.
Smolen also served as external-relations officer for the Undergraduate Real Estate Scholars, connecting students with programs and professional organizations such as CCIM Institute, Commercial Real Estate Women Network, NAIOP (National Association of Industrial and Office Properties), Urban Land Institute and others.
“I am excited to be working with Pinnacle Storage Properties, and I hope to provide Pinnacle Storage with the resources and strategies that will move them to the next level in the commercial real estate industry,” Smolen said.
Pinnacle is a privately held real estate owner and operator focused on the acquisition, development and management of self-storage assets. It investment strategy is to purchase under-leveraged properties in suburban and secondary markets. It currently has a location under development in Round Rock, Texas.