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…
Elevation Capital Group’s MHPI VII LLC, better known as Fund 7, attracted more than 500 members and raised $100 million in subscriptions since launching in April 2017. That’s a fast raise, and fund managers have announced they have raised the maximum offering amount by $50 million, to $150 million in total. Elevation, a real estate…
Las Vegas-based Crystal View Capital is making a bigger move into the self-storage industry with its latest private equity fund, Crystal View Capital Fund II. The $35 million fund is focused exclusively on buying self-storage and manufactured home properties across the Western U.S. To date, 60 percent of its growing portfolio is comprised of self-storage…
While institutions are dominating investment in larger metros, private investors are quietly fueling sales activity in smaller tertiary markets where pricing is more attractive and yields are higher. Smaller metros have always provided a strong foundation of transaction activity in the self-storage sector, and there continues to be a lot of sales velocity in these…
As rents continue to soar in the Las Vegas, NV, market, self-storage investors might be wondering whether it’s worth taking a gamble on Sin City. The February 2019 self-storage report from data provider Yardi Matrix shows Vegas continues to lead the country for rent growth among metro areas with at least 1 million residents. In…
The record high levels of new supply delivered to the self-storage market last year don’t appear to be diminishing buyer appetite. According to Real Capital Analytics, transaction volume jumped to $6.16 billion last year. Even excluding a $1.3 billion entity level transaction, sales were up about 15 percent year-over-year. Development and how that supply is…
