A CBRE Investment Management fund purchased a portfolio of 14 self-storage sites totaling 8,697 units in Southern California and Utah. CBRE partnered with the William Warren Group on the deal. WWG will manage the acquired facilities under its StorQuest Self Storage name. The fund now owns 100—self-storage properties totaling 55,477 units nationwide. Nick Walker, vice…
New York City-based KKR, an investment firm, sold four self-storage properties totaling 2,897 units for about $80 million. Two are in Austin, TX and two others are in Phoenix, AZ and Riverside, CA. The properties were sold in two different transactions with different buyers. KKR began Alpha Storage Properties in 2021 to buy and manage…
Global investment firm KKR has sold three self-storage facilities recently with the help of the CBRE Self Storage Advisory Group, including one in California for $23 million. Dallas-based operator Baranof Holdings purchased the 774-unit self-storage facility at 3111 Third St. in the Inland Empire city of Riverside, CA (below). CubeSmart manages the facility, a three-story building…
Talonvest Capital Inc. of Irvine, CA – along with their client Strategic Storage Growth Trust III Inc. – announced the closing of a $23.4 million bridge loan financing the certificate of occupancy acquisition of a facility in Chula Vista, CA. Strategic Storage is a private company that wants to qualify as a REIT with sponsorship…
Public Storage has purchased a portfolio of 28 self-storage facilities in and around Ocala, FL from regional operator Neighborhood Storage (below). The seller retains a single facility in the market. The portfolio spans more than one million square feet of storage space in total and was approximately 85% occupied before the transaction. It has a…
CBRE announced the $8.8 million sale of a self-storage facility in The Villages, FL, one of the best-known master-planned communities in the nation, and it has more than 80,000 households. Coleman Self Storage LLP was the seller and Allendale Ventures LLC the buyer. The facility has 335 units spread across 51,575 square feet. Source: CBRE…
Boardwalk Development Group sold a 10-property, 3,369-unit self-storage portfolio located in Atlanta, Georgia and Tennessee. The properties operate under the Mini Mall Storage brand. The purchaser was Avenue Living Asset Management. The Alabama facility is in Opelika. In Georgia, the sites are in Dahlonega, Clermont, Loganvile, Perry and Jasper. In Tennessee, they are in Ooltewah,…
CBRE announced the sale of a self-storage facility named Capital City Storage in Olympia, WA for $7.4 million. It has 417 units spread across 43,304 square feet in 14 buildings. CBRE’s Self Storage Advisory Group represented the seller, TJY Properties LLC, a private investor. The buyer also is a private investor. Capitol City Storage neighbors…
Houston, TX-based LandPark Advisors LLC, in a joint venture with Sunset Capital LLC bought an eight-property self-storage portfolio in East Texas (in the Dallas-Fort Worth MSA). Right Move Storage LLC will manage the portfolio. Extensive improvements and starting up an efficient leasing and management strategy are planned. “Right Move has intimate knowledge of these assets…
Bluebird Self Storage purchased one of the oldest storage facilities in North America as its first location in Victoria, British Columbia, Canada. The four-story, 16,000-square-foot City Center Storage building at 824 Johnson St. was constructed in 1901. Originally, it boarded horses, and a freight elevator took them to the upper floors. It’s been a storage…
