by adowney | Mar 29, 2019 | News, Private Companies
Seeking to concentrate on growing its hotel business, Virginia Beach, VA-based real estate company Suburban Capital Inc. has sold its entire self-storage portfolio for $75 million. Suburban Capital executives said March 28 that Glendale, CA-based self-storage REIT...
by adowney | Mar 25, 2019 | News, People
From my home office in Lincoln, Nebraska, and with apologies to David Letterman, I bring you the top ten reasons you should build your next self-storage facility now. 10. It’s a good time to secure financing. “There is plenty of money available. At the recent mortgage...
by adowney | Mar 20, 2019 | News
Jones Lang LaSalle Inc. is buying HFF Inc. in a roughly $2 billion cash-and-stock deal combining two commercial real estate brokerages that are active in self-storage. Chicago, IL-based JLL said March 19 that it expects its purchase of Dallas, TX-based HFF to be...
by adowney | Mar 13, 2019 | News, Private Companies
Storage Asset Management — the country’s largest privately owned manager of self-storage facilities — grew its workforce by 60 percent in 2018 and continues to ramp up hiring in 2019. York, PA-based Storage Asset Management, known as SAM, added 126 employees in 2018,...
by adowney | Mar 8, 2019 | Investment, News
As rents continue to soar in the Las Vegas, NV, market, self-storage investors might be wondering whether it’s worth taking a gamble on Sin City. The February 2019 self-storage report from data provider Yardi Matrix shows Vegas continues to lead the country for rent...
by adowney | Mar 5, 2019 | News, Private Companies
Self-storage owner and operator Pogoda Cos. is going through a growth spurt, with an eye toward expanding its portfolio through acquisitions. Adam Pogoda, the business’ new director of acquisitions, said he’s already on track to close five deals during the first half...
by adowney | Feb 26, 2019 | News, Public Companies
On the heels of nearly $1.7 billion worth of self-storage deals in 2018, self-storage REIT National Storage Affiliates Trust has earmarked as much as $600 million for acquisitions this year. But it’s being picky about facilities that it adds to its portfolio. “We...
by adowney | Feb 26, 2019 | News, Public Companies
Self-storage REIT CubeSmart expects about half of its same-store pool to be hit in 2019 by the continuing wave of new supply. During the REIT’s Feb. 22 earnings call, Tim Martin, chief financial officer of CubeSmart, said the estimated 50 percent of the same-store...
by adowney | Feb 25, 2019 | News, Public Companies
A California judge has tentatively sided with Public Storage in a $100 million class-action lawsuit that alleged the self-storage REIT tricked California tenants into believing they had to buy company-sold insurance when they rented storage units. In a Feb. 21 order,...
by adowney | Feb 12, 2019 | Investment, News
Slowly but surely, self-storage investors are taking advantage of perhaps the most buzzed-about real estate tax-saving tool of 2019 — Opportunity Zones. San Antonio, TX-based business management company DPR Investments Ltd. recently became the first investor to hop on...
by adowney | Jan 25, 2019 | News
As lenders cautiously assess risk in a somewhat uncertain economic environment, Talonvest Capital Inc. recently secured an almost $17.5 million loan for acquisition of a three-facility self-storage portfolio in Rhode Island. Irvine, CA-based Talonvest, a self-storage...
by adowney | Jan 18, 2019 | Investment, News
One of the biggest names in storage development is taking one of its partners to court. In a nearly $18 million lawsuit, self-storage financing REIT Jernigan Capital Inc. is seeking to foreclose on a storage facility that’s under construction in Miami, FL. The South...
by adowney | Dec 5, 2018 | News
Maybe millennials aren’t such minimalists after all. Self-storage demand continues to remain high in U.S. markets that have cultivated a following among millennials, according to the November 2018 self-storage report from real estate data provider Yardi Matrix. The...
by adowney | Nov 30, 2018 | News
Continuing its trend of converting former retail stores into self-storage and moving facilities, U-Haul International Inc. is snapping up 13 Kmart and Sears locations for $62 million. The purchase by U-Haul’s real estate arm, AMERCO Real Estate Co., of the 13 stores...
by adowney | Nov 19, 2018 | News
Property taxes already are a pain in the budget for self-storage operators, but that pain could become unbearable for operators of facilities in California. Self-storage operators are keeping a wary eye on a proposal that would overhaul California’s property tax...
by adowney | Nov 5, 2018 | City Guides
Thinking of buying a house in Charleston? With its miles of pristine beaches, countless incredible restaurants, and charming historic neighborhoods, it’s no surprise that Charleston consistently ranks as one of the top destinations for people looking to relocate. Like...
