by adowney | Sep 3, 2019 | Investment, News, Private Companies
A newly created self-storage investment fund recently made its first two acquisitions and is hunting for more facilities to buy. VanWest Storage Fund I LLC, affiliated with Denver, CO-based real estate investment firm VanWest Partners, aims to purchase 10 to 12...
by adowney | Aug 30, 2019 | News, People
As a marketer, business development executive, public speaker and author, Tron Jordheim has witnessed a lot during his nearly 20 years in the self-storage industry. Jordheim’s latest venture in self-storage: He and Store Here Self Storage recently formed Self Storage...
by adowney | Aug 23, 2019 | News, Private Companies
Thanks to a fresh infusion of capital from a New York-based private equity firm, self-storage builder Mako Steel Inc. plans to expand its geographic reach by opening an East Coast satellite office with as many as 10 employees. Larchmont, NY-based New State Capital...
by adowney | Aug 5, 2019 | News, Public Companies
As it absorbs the second-quarter purchase of 24 wholly owned facilities for $185.3 million, National Storage Affiliates Trust expects to pounce on more potential acquisitions once asking prices fall. Arlen Nordhagen, chairman and CEO of the Greenwood Village, CO-based...
by adowney | Aug 1, 2019 | News, Public Companies
In the first half of 2019, self-storage REIT Public Storage scooped up 22 facilities for $198 million. After the calendar flipped from June to July, the company purchased or put under contract another 10 facilities for $86.5 million. So far this year, the company’s...
by adowney | Aug 1, 2019 | News, Public Companies
In the recently wrapped-up second quarter, Extra Space Storage and joint venture partners bought an 11-facility, off-market portfolio for about $228.5 million. The self-storage REIT also purchased a certificate-of-occupancy project, and it’s got another eight...
by adowney | Jul 29, 2019 | News, Public Companies
A joint venture between CubeSmart and Heitman LLC was the recent seller of a 50-facility self-storage portfolio that fetched nearly $294 million, CubeSmart revealed July 26. When the deal was announced July 11, the seller was identified only as a joint venture between...
by adowney | Jul 23, 2019 | Investment, News
A major credit-rating agency has raised concerns about the self-storage industry’s mounting exposure to CMBS loans, but an executive who arranges financing for self-storage deals says there’s no need to ring the alarm. In a recent report, analysts with S&P Global...
by adowney | Jul 12, 2019 | News
In what’s billed as the largest acquisition of its type in the history of the self-storage industry, a fund affiliated with self-storage owner and operator SROA Capital LLC has purchased a 50-facility, six-state portfolio. SROA Capital Fund VII LP — managed by West...
by adowney | Jul 10, 2019 | News, Private Companies
Prime Storage Group, one of the country’s largest privately held owners and operators of self-storage facilities, is refinancing debt through a CMBS loan package totaling $278 million. This transaction is backed by two fixed-rate loans collateralized by 49 facilities...
by adowney | Jun 13, 2019 | Investment, News
New York City, NY-based alternative investment firm Angelo Gordon & Co. LLP recently raised more than $2.75 billion for a new real estate fund. And it’s almost a certainty that some of that money will flow into the self-storage sector. Primarily through off-market...
by adowney | Jun 5, 2019 | News, Public Companies
On Jan. 1, Tamara Fischer will make history: She’ll become the first woman to head one of the self-storage industry’s publicly traded REITs. One prominent female executive in self-storage says the rise of a woman to the top post at a major self-storage REIT is long...
by adowney | Apr 25, 2019 | News
Self-storage investors frequently focus on major markets like Atlanta, GA; Dallas-Fort Worth, TX; and Phoenix, AZ. After all, top-tier metro areas are where the most people — and potential customers — are. Yet if you look at where the most population growth is...
by adowney | Apr 15, 2019 | Moving Tips
Several years ago I relocated to Los Angeles for a while, and I moved into a loft downtown two blocks away from Skid Row. Although I really loved living down there, I’m not sure I would have ended up in that location had I been more Internet savvy about...
by adowney | Apr 10, 2019 | News, People
From my home office in Lincoln, Nebraska, and with apologies to David Letterman, I bring you the top ten things your broker wants to make sure you know for the most positive transaction experience possible. 10. Think about the big picture ahead of time. “Before...
by adowney | Apr 9, 2019 | News, Private Companies
As the new president of MCSS Development & Investment LLC, Ben Carr is “prudently” hunting for self-storage acquisitions and development sites in major markets across the U.S. In fact, Carr, a veteran of the self-storage industry, was in full deal-pursuit mode at...
