The William Warren Group recently promoted Tim Hobin, 51, to chief investment officer. His duties include leading the real estate team to deliver on investment strategy, to mentor leadership and to foster investment return and growth objectives. WWG is a nationally known powerhouse in self-storage management, acquisitions and development. The company operates its facilities…
Private real estate firms seem to have little trouble raising investor funds for self-storage ventures. Two separate firms have recently closed funds exceeding $50 million in new capital for self-storage development and acquisition activity. Albuquerque-based DXD Capital, a self-storage investor and developer, announced the closing of its inaugural fund focused on developing new facilities. The…
Irvine, CA-based Talonvest Capital, Inc., helped secure its clients $111,500,000 in permanent financings during the final weeks of 2021. The boutique self storage and commercial real estate mortgage brokerage firm negotiated with various national banks to obtain the loans for their clients. The new closings are secured by assets located in Texas, California, Illinois, and…
While many in the self-storage industry would be thrilled to have a repeat of 2021, a new year has dawned. The year 2022 holds plenty of promise, even if it doesn’t quite reach the record-breaking heights of the last 12 months. But who knows? 2022 could be a record breaker for you! To bring you…
Your favorite self-storage news site has a new home. The Storage Beat is now publishing on Storable.com. While stories will still appear here on this site for now, the new Storage Beat format on Storable will provide the best experience. Our weekly newsletter is now also being sent from Storable, so if you are new…
It’s often been said that the self-storage industry is recession resistant, but is it also inflation resistant? For the time being, it looks that way. Despite recent price spikes in construction materials, energy, wages and other items across the board in the U.S., the self-storage industry is keeping ahead of inflation via rent increases. So…
This year, the self-storage industry saw three portfolios trade for well over $1.5 billion each. What did all three deals have in common? Kieran O’Shea. O’Shea, managing director of real estate investment bank Eastdil Secured, represented the sellers of the EZ Storage portfolio ($1.8 billion), the Storage West portfolio ($1.7 billion) and the biggest of…
Adult Toy Storage, which lays claim to being the largest RV and boat storage facility in the country, has a new owner. The cheekily-named facility will also be getting a new moniker: RV Storage Depot. A Newport Beach, CA-based joint venture between RanchHarbor, Ramser Development Company and Saunders Property purchased the Altamonte Springs, FL facility….
CubeSmart announced Nov. 15 that it struck a deal to acquire 59 self-storage properties from LAACO Ltd., which operates facilities under the Storage West brand. The total purchase price is $1.69 billion. The Malvern, PA-based REIT also announced that it has commenced a public offering of 13.5 million common shares that will be used to…
Columbia, MO-based StorageMart has struck a deal to purchase the 18-facility Manhattan Mini Storage portfolio in New York City. The portfolio spans 3.1 million square feet, offering a total of 56,000 self-storage units. StorageMart, the world’s largest privately held self-storage operator, announced Nov. 12 that it entered a definitive agreement to purchase the entirety of…
