Shopping malls and other retail centers might be on shaky ground these days, but the ground at some of those developments is becoming valuable territory for self-storage. Chattanooga, TN-based mall owner CBL Properties Inc. (NYSE: CBL) is tapping into the potential of self-storage in a unique way. While developers across the country have purchased shuttered retail…

Self-storage buyers hungry for yield have been chasing freshly developed “certificate of occupancy” deals where they can earn a higher return in exchange for taking on the lease-up risk—and none of the construction risk—of a newly built property. Buyers of C/O deals, as they are commonly called, are finding they can cash in with a…

From 2009 to 2016, Austin, TX-based Virtus Real Estate Capital LLC went on a self-storage buying spree. During that period, the firm spent $191 million to scoop up 61 self-storage facilities in the U.S., with seven of those properties being bought in partnership with Cordova, TN-based Absolute Storage Management Inc. Today, Virtus owns just one self-storage…

Goldendale, WA-based self-storage operator Iron Guard Storage recently obtained $98.15 million from a CMBS loan backed by its 22-property portfolio. The portfolio covers a total of 1.3 million square feet of space in seven states: Texas, Georgia, Alabama, Nevada, Washington, North Carolina and Virginia. The financing was arranged by Chicago based advisor The BSC Group….

First Neck Self Storage has raised $50 million—and plans to perhaps double that in its next round—to buy operating storage facilities in primary and especially secondary markets. It’s a joint venture involving CSM Capital Corp., a New York City-based multifamily office, and Self Storage Capital Partners, a Philadelphia-based self-storage firm that uses the brand name…