by adowney | May 19, 2021 | Investment, News
The Move It self-storage brand is tapping into a $25 million pool of cash from its first-ever equity fund to add 10 to 15 facilities to its portfolio. Tim Springer, president of Dallas-based Move It, said the company will leverage the $25 million in investment capital...
by adowney | May 7, 2021 | News, Public Companies
Self-storage REIT Life Storage is bullish on this year’s acquisition market. The Williamsville, NY-based company had expected to spend $350 million to $450 million this year on wholly owned acquisitions. But Life Storage just lifted that range to between $550 million...
by adowney | May 7, 2021 | News, Public Companies
Propelled by robust growth in revenue and occupancy, publicly traded self-storage REITs scored significant gains in same-store NOI during the first quarter of 2021. But one REIT, National Storage Affiliates Trust, topped them all for this measure of profitability....
by adowney | May 4, 2021 | News, Public Companies
One word applies to CubeSmart’s acquisition strategy for 2021: disciplined. During the self-storage REIT’s first-quarter earnings call on April 30, two executives — Chris Marr, president and CEO, and Tim Martin, chief financial officer — repeatedly referred to...
by adowney | May 2, 2021 | News, Public Companies
Extra Space Storage kicked off 2021 by racking up the highest first-quarter occupancy rate in the history of the self-storage REIT. Now, the company anticipates its elevated occupancy should extend through the busy summer season and may stretch into the slower fall...
by adowney | May 2, 2021 | News, Public Companies
Public Storage is gobbling up the ezStorage portfolio for $1.8 billion, but the self-storage REIT still has a healthy appetite for acquisitions. But will any more large portfolios be on the menu? During the first quarter of 2021, the Glendale, California-based REIT...
by adowney | Apr 21, 2021 | News, Private Companies
As students at Cornell University in Ithaca, NY, Dan Hagberg and Nick Huber launched Storage Squad in 2011. In the span of a decade, the valet-storage company for college students blossomed into a 35-school, 10-state operation. But in January, the two men sold Storage...
by adowney | Mar 17, 2021 | Investment, News
In more ways than one, 2020 was one for the record books. And it was a record-setting year for self-storage acquisitions, too. Investors sought shelter from battered asset classes like office and commercial, and dislocated consumers helped drive demand higher. These...
by adowney | Feb 28, 2021 | Development, News
An advertising campaign launched in 1977, complete with a logo and jingle, promoted the slogan “I Love New York.” That also could be the current slogan for self-storage REIT CubeSmart. Following CubeSmart’s $540 million purchase in December of eight Storage Deluxe...
by adowney | Feb 28, 2021 | News, Public Companies
In 2020, the coronavirus pandemic may have slowed or stopped property acquisitions in some sectors, but that was hardly the case at self-storage REIT National Storage Affiliates Trust. The fourth quarter of 2020 represented the REIT’s busiest quarter ever for wholly...
by adowney | Feb 28, 2021 | News, Public Companies
Following a dramatic swing in occupancy rates last year, self-storage REIT Life Storage expects a return to normal in 2021. At the beginning of 2020, the same-store occupancy rate for Williamsville, NY-based Life Storage lagged 30 basis points behind the same period a...
by adowney | Feb 26, 2021 | News, Public Companies
A shift toward remote work helped push up last year’s same-store occupancy rate for self-storage REIT Public Storage. During the company’s Feb. 25 earnings call, President and CEO Joe Russell said demand for self-storage “has been very resilient” during the...
by adowney | Feb 24, 2021 | News, Public Companies
The coronavirus pandemic may have crushed businesses like restaurants and hotels in 2020, but self-storage REIT Extra Space Storage emerged from the tumultuous year relatively unscathed. Salt Lake City, UT-based Extra Space reported Feb. 22 that same-store rental...
by adowney | Jan 25, 2021 | News, Private Companies
As Spartan Investment Group continues to expand its self-storage portfolio, it’s putting all of its facilities under the same brand umbrella. The Golden, CO-based company is rebranding 10 of its 12 current self-storage facilities as FreeUP Storage, and it will brand...
by adowney | Jan 15, 2021 | News
Janus International Group, a leading maker of doors and access controls for self-storage facilities and other structures, is joining the small club of publicly traded companies in the self-storage industry. Membership in that club should help propel Janus toward its...
by adowney | Jan 6, 2021 | News
Blackstone Group’s $1.2 billion purchase of Simply Self Storage has helped open the acquisition floodgates. Self-storage specialist Marc Boorstein, principal of Chicago-based real estate brokerage and investment firm MJ Partners Real Estate Services, said that after...
