by adowney | Dec 14, 2020 | News, Private Companies
Pinnacle Storage Properties LLC recently hired Bill Lierman as its first-ever construction project manager. Lierman won’t concentrate solely on ground-up development of self-storage facilities, though. Rather, Lierman will focus primarily on upgrading and expanding...
by adowney | Nov 17, 2020 | News, Public Companies
Citing the resilience of the self-storage sector demonstrated during the coronavirus pandemic, self-storage REIT National Storage Affiliates has taken a step that its publicly held rivals have not. Earlier in the pandemic, National Storage Affiliates pulled its...
by adowney | Nov 16, 2020 | News, Public Companies
The coronavirus pandemic may have prompted a nationwide shutdown of businesses and schools. Yet the pandemic has hardly shut down Public Storage’s quest to build its portfolio. The Glendale, CA-based self-storage REIT has purchased or agreed to purchase 54 facilities...
by adowney | Nov 10, 2020 | News, Public Companies
After a pandemic-induced lull in acquisitions, self-storage REIT CubeSmart plans to close nearly $644 million worth of deals in the fourth quarter of this year. Through early November, the Malvern, PA-based REIT had wrapped up the purchase of only three facilities for...
by adowney | Nov 9, 2020 | News, Public Companies
For Extra Space Storage, anticipated headwinds from the coronavirus pandemic have shifted to tailwinds. Joe Margolis, CEO of the Salt Lake City, UT-based self-storage REIT, said during the company’s Nov. 5 third-quarter earnings call that “tailwinds have proved...
by adowney | Oct 22, 2020 | News
A near zero rate of CMBS loan delinquencies for self-storage facilities during the pandemic-fueled recession helps demonstrate the industry’s resilience, according to a new report from data and analytics provider Trepp LLC. The report, released this month, shows that...
by adowney | Sep 23, 2020 | News
In recent years, a partnership between Devon Self Storage and Inland Private Capital Corp. has purchased two dozen self-storage facilities. Now, the two companies are pivoting to redevelopment opportunities in Opportunity Zones. Devon and Inland Private Capital...
by adowney | Sep 10, 2020 | News, Private Companies
Real estate investment firm VanWest Partners just tapped out its initial $30 million self-storage investment fund with the recent purchase of four storage facilities. Now, the Denver, CO-based firm is aiming much higher: a second self-storage investment fund totaling...
by adowney | Sep 3, 2020 | News, Private Companies
Setting an initial target of quickly amassing a portfolio valued at $1 billion, a Denver, CO-based self-storage startup is scouring the U.S. for facilities to buy, primarily in tertiary markets. Steve Treadwell, CEO of SpareBox Storage, said a portfolio with...
by adowney | Aug 10, 2020 | News, Public Companies
If there’s a silver lining in the coronavirus pandemic for Life Storage, it’s the boom in popularity of its Rent Now contactless rental platform. The Williamsville, NY-based self-storage REIT unveiled the Rent New program in July 2018. During the company’s...
by adowney | Aug 10, 2020 | News, Public Companies
On the acquisition front, the second quarter was pretty quiet for National Storage Affiliates Trust. But the self-storage REIT soon might be making some more noise in that regard. In the quarter ended June 30, the Greenwood Village, CO-based company purchased four...
by adowney | Aug 10, 2020 | News, Public Companies
Back in late April, during the early weeks of the coronavirus pandemic in the U.S., CubeSmart launched a contactless option for self-storage rentals and move-ins. Now, the SmartRental platform represents more than 25% of CubeSmart’s rentals. The entirely digital...
by adowney | Aug 10, 2020 | News, Public Companies
Public Storage may not be past the worst of its pandemic pain. During the self-storage REIT’s Aug. 6 earnings call, executives said they expect same-store revenue in the second half of 2020 to drop even further than it did in the second quarter — 3% versus the same...
by adowney | Aug 7, 2020 | News, Public Companies
As the coronavirus pandemic continues to take a human and economic toll, Extra Space Storage is not immune to the effects. In the second quarter, a surge in expenses tied to bad debt helped drag down same-store revenue and same-store NOI. Compared with the same period...
by adowney | Jul 14, 2020 | News
RVs are on a roll. As Americans seek pandemic-era alternatives to traditional travel, they’re buying and renting RVs in huge numbers. Research released in June by the RV Industry Association shows 46 million Americans planned to take an RV trip within the following 12...
by adowney | Jun 29, 2020 | Moving Tips
You love paying income taxes, right? If you answer yes to that question, then you need to have your head examined. No one I know loves to see taxes deducted from their paychecks. No matter where you move in the U.S., there is no avoiding federal taxes. Unless you...
