New York self-storage summit will set stage for 2015

Al Harris
Published December 16, 2014

Following tremendous growth this year, 2015 promises to be another solid year for the self-storage industry — with a catch.

That’s the word from Nick Malagisi (pictured at top), managing director at Sperry Van Ness Commercial Real Estate and organizer of the New York Self Storage Association’s annual Real Estate and Finance Forum. The event will be Jan. 13 at New York City’s Union League Club.

“Keep in mind we still have three years of CMBS debt coming due, that 10-year debt put in place in 2005, 2006 and 2007. Some of those people are not going to be able to refinance,” Malagisi told The SpareFoot Storage Beat.

Instead, many operators likely will be looking to sell their facilities, according to Malagisi. That will contribute to continued industry consolidation in 2015, he said.

“I think many people are re-evaluating their assets and doing some financial planning. We have an industry that still comprises owners from 25 to 30 years ago who don’t have succession plans,” Malagisi said.

Summit lineup

Malagisi will moderate two panels, one on acquisitions and another on development. Meanwhile, Alexander Harris, the reporter for The SpareFoot Storage Beat, will give a keynote presentation on supply and demand in the self-storage market.

Also, Jim Davies, principal of self-storage lending firm Talonvest Capital, is coordinating a panel on capital markets. Brian Cohen, president of self-storage operator Andover Properties, will moderate the panel.

Jim Davies

Jim Davies, principal of self-storage lending firm Talonvest Capital, is coordinating one of the panels.

Davies said he expects competition among self-storage lenders to be at the forefront of the conversation.

“Operators and investors are frequently surprised by how much the economics and structure of a loan improves during the competitive process,” Davies said.

Davies and the other two principals of Talonvest have closed more than $4 billion in self-storage financing during their careers. He expects 2015 to be another active year on the financing front.

“I think given the number of people that need to refinance, the next few years should produce strong loan volumes very similar to, if not greater than, what was done in the industry this year,” Davies said.

For more information about the New York forum, visit

Here is a rundown of the panels:

Capital Markets Panel
Presented by Talonvest Capital. Introduced by Jim Davies of Talonvest. Moderated by Brian Cohen, president of Andover Properties.


  • Francis X. Gilhool, managing director of real estate finance, Barclays
  • Jon Albertell, managing director of real estate capital markets, Wells Fargo
  • Stephen Clark, president and CEO, Clark Investment Group
  • Eric Snyder, principal, Talonvest Capital

Development Panel
Moderated by Nick Malagisi, managing director of Sperry Van Ness Commercial Realty.


  • Gary Sugarman, chief investment officer, The William Warren Group
  • Gary Delaney, president, Banner Storage
  • Marc Slayton, president, Post Management
  • Frank Relf, architect
  • Jim Goonan, vice president, Safeguard Self Storage

Acquisitions Panel
Moderated by Nick Malagisi, managing director of Sperry Van Ness Commercial Realty. 


  • Elizabeth Raun Schlesinger, vice president, W.P. Carey
  • Jim Stevens Sr., vice president, Extra Space Storage
  • Jonathan Perry Sr., vice president, CubeSmart
  • Todd Amsdell, president and CEO, Compass Self Storage

Al Harris

Alexander Harris is a reporter covering the business of self-storage. He obtained his degree in journalism from Virginia Commonwealth University. He loves reading Elmore Leonard novels and listening to classic country music. You can call him Al.

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