Inside Self-Storage

NOV 2018

Inside Self-Storage (ISS) is an information source for industry owners, managers, developers and investors covering news, trends, facility operation, finance, real estate, construction, development, marketing, technology, insurance and legality.

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Page 35 of 71

Tell us a company secret. We're known for being a very transparent company, so we really don't have any secrets. If you could invite anyone, from modern times or history, to coach your staff, who would it be and why? Wayne Hughes, who started Public Storage. We'd love for him to give us the history on how he started out and his early days, as well as how the company has evolved to where it is today. If your company had a mascot, what would it be and why? A Clydesdale horse. They're strong, friendly and hard-working. If President Trump were to write a Tweet about your business, what would it say? These guys are very knowledgeable, helpful and give FANTASTIC customer service! I am getting into the self-storage business when my term is up, and I want to be in business with them! Why do you love the self-storage industry? The people are a big part of it. Most everyone is down to earth and willing to help if you have questions. It's a great business that can be operated by the smallest operator to the large real estate investment trusts and everyone in between. What's the most pressing challenge facing your business this year, and how are you conquering it? The recent changes in material increases and higher interest rates. We try to overcome this by offering advice to our customers on how to be more cost-efficient and by providing products to help make their loans work. What's the best thing to happen to your company since last year? Our company has grown. We've added very talented people to each team, and the people make the difference! Founders: Vince Dailey, Brian Faulk, David Lucht, James S. (Chip) Mahan III, Neil L. Underwood, Lee Williams III Owner: Publicly traded President: Scott Custer CEO: James S. (Chip) Mahan III Founded: 2008 Headquarters: Wilmington, N.C. Number of offices: 4 Number of employees: 540 Live Oak provides financing solutions for self-storage owners and operators looking to build, buy or expand their businesses. Its team of lending experts is exclusively focused on self-storage and strives to provide unmatched service and resources throughout the life of customers' loans. 2018 BEST OF BUSINESS BEST LENDER The Live Oak Bank Team and its company headquarters 34 ISS I November 2018

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