Centerbridge Partners and Reframe Holdings Announce Self-Storage Joint Venture

Partnership to target Class A and B self-storage properties

NEW YORK and CHARLESTON, S.C., Oct. 27, 2025 /PRNewswire/ -- Centerbridge Partners, L.P. ("Centerbridge") and Reframe Holdings LLC ("Reframe") today announced the formation of a programmatic joint venture. Including leverage, the venture will be positioned to aggregate and own over $500 million of self-storage facilities across the United States.

The partnership will focus on acquiring existing Class A and institutional-quality Class B facilities in top metropolitan statistical areas (MSAs) nationwide, utilizing leading third-party property managers to oversee operations. The platform combines Centerbridge's deep experience and track record in self-storage with Reframe's principals' experience in acquisitions, development, and management of self-storage and other related properties.

Centerbridge has an extensive track record investing in the self-storage sector, having owned significant self-storage businesses and assets in both public and private markets throughout the U.S. and Europe. Since 2017, Centerbridge has acquired approximately $3 billion of self-storage real estate in the U.S. across more than 375 assets and over 22 million square feet. Additionally, Centerbridge is invested in the European self-storage sector through multiple platforms across the Nordics and Spain.

"Centerbridge has long recognized the resilience of the self-storage industry through economic cycles. With fundamentals stabilizing and new supply moderating, we believe the sector is well positioned for renewed growth," said Matt Dabrowski, Co-Head of Real Estate and Senior Managing Director at Centerbridge. "We are thrilled to partner with Matt, Zack, and the entire Reframe team, leveraging their deep industry relationships and data-driven approach to capitalize on the evolving opportunity set."

"Through our partnership with Reframe, we are excited about the opportunity to aggregate an institutional-quality portfolio with clear value-add drivers through unique sourcing channels," added Ally Heyburn, Managing Director at Centerbridge.

"We founded Reframe with the confidence that our entrepreneurial mindset, data analytics, and proven execution would make us an ideal partner for a firm like Centerbridge. By combining Reframe's acquisition and operating experience with Centerbridge's capital and strategic perspective, we are confident in our ability to scale quickly," said Matt Dicker, Co-Founder of Reframe.

"The storage sector remains highly fragmented. Our industry relationships and sourcing channels position us to capitalize on this inflection point as the industry recovers," said Zack Widmann, Co-Founder of Reframe.

Walker & Dunlop's Equity and Structured Finance team advised on the formation of the joint venture. Burr & Forman LLP acted as legal advisor to Reframe, and Simpson Thacher & Bartlett LLP acted as legal advisor to Centerbridge.

About Centerbridge Partners
Founded in 2005, Centerbridge Partners is a multi-strategy investment firm with offices in New York and London and platforms in private equity, credit, and real estate with approximately $43 billion under management as of June 30, 2025. Centerbridge has invested over $12 billion of capital across more than 125 real estate investments, with broad capabilities to invest in operating companies, programmatic joint ventures and special situations across the capital structure. https://www.centerbridge.com

About Reframe Holdings
Led by Matt Dicker and Zack Widmann, Reframe Holdings is a Charleston, SC and Boca Raton, FL based real estate investment and management firm founded in 2024. Collectively, the principals of Reframe have transacted on over $1.8 billion of self-storage and industrial properties across 40 facilities totaling 5.1 million square feet. https://reframeholdings.com

Media Contacts

For Centerbridge
Jeremy Fielding / Anntal Silver / Daniel Hoadley
Kekst CNC
CenterbridgePartners@kekstcnc.com 

For Reframe
Matt Dicker
matt@reframeholdings.com

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SOURCE Centerbridge Partners, L.P.