What’s one lingering effect of the pandemic that isn’t going anyway anytime soon? The rise of unmanned self-storage facilities. Storage Asset Management (SAM), a York, PA-based third-party management firm, recently reported a 110% increase from 2020 to 2021 in the number of unmanned self-storage locations it operates. Of the 442 self-storage locations the company manages…
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…
10 Federal’s third self-storage fund is up and running, raising $7.4 million in 18 days and quickly acquiring three facilities in Georgia and South Carolina as part of its long-term push to become one of the top storage operators in the nation. Brad Minsley, co-founder of Raleigh, NC-based 10 Federal Self Storage, said his company’s…
The Move It self-storage brand is tapping into a $25 million pool of cash from its first-ever equity fund to add 10 to 15 facilities to its portfolio. Tim Springer, president of Dallas-based Move It, said the company will leverage the $25 million in investment capital to spend about $100 million primarily on ground-up and…
In more ways than one, 2020 was one for the record books. And it was a record-setting year for self-storage acquisitions, too. Investors sought shelter from battered asset classes like office and commercial, and dislocated consumers helped drive demand higher. These forces and more combined to launch self-storage sales tallies for 2020 to an all-time…
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…
