Strategic Storage Growth Trust II Inc., a REIT sponsored by Ladera Ranch, CA-based SmartStop Asset Management LLC, purchased a CubeSmart-branded facility in Sacramento, CA, from an unidentified seller for $15.6 million. The facility, on 5.68 acres at 9950 Mills Station Road, features 1,029 units in about 94,000 square feet. This was the REIT’s first acquisition….

Pogoda self-storage facility Pogoda self-storage facility

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 of 2019, including a facility under contract that sits in a tax-advantageous Opportunity…

Sometimes it doesn’t pay to follow the leader. From the viewpoint of Public Storage CEO Joe Russell, bigger isn’t always better when it comes to the size of new facilities being run by rival self-storage operators. During the self-storage REIT’s Feb. 27 earnings call, Russell said that among new facilities that came online in 2017…

Columbia, MO-based StorageMart recently purchased five facilities in the Kansas City, MO, market. In one deal, it purchased the Self Storage Depot portfolio, with four facilities in Blue Springs, Independence and Lee’s Summit, MO. The purchase price wasn’t disclosed. The facilities encompass more than 1,300 storage units and nearly 200 parking spaces. StorageMart also purchased…

For some of the assets owned by self-storage operator Life Storage, it’s out with the old and in with the new. In 2019, the REIT says it will keep up its recycling of assets — shedding older, lower-revenue facilities in markets with less desirable demographics in favor of newer, higher-revenue facilities in markets with more…