DXD Capital got a nice present during the holiday season: Its new DXD Self Storage Fund I, which it launched in September with a goal of raising $50 million, garnered $12.5 million before Thanksgiving. “We really started the capital raise Sept. 1,” said Drew Dolan, principal and fund manager for DXD, which is based in…
Summer may be over, but the self-storage refinancing market remains hot. On Oct. 1, JLL Capital Markets said it secured a $87 million refinancing of a portfolio of 36 self-storage facilities on behalf of West Palm Beach, FL-based self-storage investment firm SROA Capital LLC. The five-year, interest-only 3.12 percent fixed-rate package came from several banks….
Although Wall Street may be jittery about a looming recession, the five publicly traded self-storage REITs are enjoying a bullish run in the stock market. As of Aug. 30, the stock prices of all five REITs were sitting near their 52-week highs. Helping push up the stock prices: The REITs generated same-store revenue growth in…
A newly created self-storage investment fund recently made its first two acquisitions and is hunting for more facilities to buy. VanWest Storage Fund I LLC, affiliated with Denver, CO-based real estate investment firm VanWest Partners, aims to purchase 10 to 12 facilities totaling roughly 400,000 net rentable square feet, said Jacob Vanderslice, founder and principal…
Sylios Corp. has sought riches in oil and natural gas exploration and in the burgeoning cannabis industry. Now it sees riches in self-storage. A St. Petersburgh-based holding company run by a former hedge-fund operator, Sylios has announced that it’s currently developing the first of a handful of self-storage facilities in the southeastern region of the…
Is the self-storage industry ready for blockchain technology? Texas-based Pinnacle Storage Properties is betting that it is. The owner-operator is both a founding partner and one of the first sponsors to commit to listing its assets on the Earn.re fundraising platform, which is set to debut later this fall. Like many growing companies, Pinnacle Storage…
A major credit-rating agency has raised concerns about the self-storage industry’s mounting exposure to CMBS loans, but an executive who arranges financing for self-storage deals says there’s no need to ring the alarm. In a recent report, analysts with S&P Global Ratings said they now view self-storage exposure to CMBS “cautiously” because of the short-term…
Talonvest Capital Inc. recently completed the negotiation of a $48.4 million refinance bridge loan. Nothing unusual there; Talonvest is currently negotiating transactions worth between $7 million and $125 million. But a note of caution from Thomas Sherlock, one of Talonvest’s three principals. “The demand for this type of loan from borrowers is increasing, but the…
New York City, NY-based alternative investment firm Angelo Gordon & Co. LLP recently raised more than $2.75 billion for a new real estate fund. And it’s almost a certainty that some of that money will flow into the self-storage sector. Primarily through off-market transactions, Angelo Gordon invests in various segments of commercial real estate, including…
Fairway America, founded in 1992 by Matt Burk, CEO and chief investment officer, invests in small balance real estate (SBRE) deals and manages its own discretionary SBRE funds. During its history, it’s helped to structure and create over 150 funds and syndications for SBRE entrepreneurs around the United States. Earlier this year, it created the…
