Winter Garden, FL-based iStorage recently purchased a pair of facilities in Northern California’s San Francisco Bay Area for a combined $31 million. Dean Keller, owner of Laguna Beach, CA-based Bancap Self Storage Group, brokered the deal. The two properties were sold by the Lafayette, CA-based owner who developed them. Coliseum Self Storage, at 5200 Coliseum…

money money

A Los Angeles, CA-based real estate company that converts shopping centers into self-storage facilities has opened up a $25 million fund to investors. DealPoint Merrill introduced its Growth and Income Fund in January. Money in the fund will pay for the firm’s redevelopment of commercial and retail properties. “One of our development strategies is to…

ListSelfStorage.com ListSelfStorage.com

A new site has gone online for brokers to list self-storage properties and for buyers to find them. ListSelfStorage.com launched earlier this month with more than 100 listings. The site is operated by the Storage Business Owners Alliance, an industry-owned organization offering various services to the self-storage industry. Theresa Gallas, vice president of sales and marketing…

Extra Space Greensboro Extra Space Greensboro

Self-storage REIT Extra Space Storage recently bought a seven-facility portfolio from a Charlotte, NC-based real estate management and investment firm. FCA Partners sold the portfolio for about $57 million. The sale took place in mid-December. Salt Lake City, UT-based Extra Space already managed six of the facilities, located in North Carolina and South Carolina. The…

Mini U Storage Mini U Storage

SmartStop Self Storage has purchased several self-storage facilities from Irvine, CA-based Dahn Corp., operator of Mini U Storage. The SpareFoot Storage Beat has identified seven former Mini U Storage facilities now being operated by SmartStop Self Storage. As of Jan. 26, the facilities were listed on SmartStop’s website. The facilities are part of a 26-property…

Paul Powell Paul Powell

Sovran Self Storage, a Williamsville, NY-based REIT that operates Uncle Bob’s Self Storage, has shaken up its executive ranks. Paul Powell (pictured) has been promoted to chief investment officer, Sovran announced Jan. 20. Powell had been executive vice president of real estate investment. As CIO, Powell will oversee acquisition, disposition and development activities. Powell has worked for…