The self-storage building boom appears to have reached an impressive financial milestone. Talonvest Capital Inc., the California self-storage financial adviser and mortgage broker, reports that lenders are now offering extremely attractive bridge loan deals to developers who want to get out of their original construction loans earlier than anticipated. Traditionally, bridge loans have loan-to-cost ratios…

The William Warren Group purchased three self-storage facilities in Miami-Dade County for $100 million. The facilities were sold by CRP/Westport Self Storage Dixie, a joint venture between the Carlyle Group and Westport Properties, operator of US Storage Centers. The facilities are located at 1396 Northeast 125th Street, 1555 West Dixie Highway and 13301 Southwest 87th…

Cushman & Wakefield’s Self Storage Practice Group sold a ready-to-build self-storage site on Aurora Avenue North in Shoreline, WA, which is in North Seattle. The site is approved to build about 77,000 rentable square feet. C&W’s Greg Wells and Jim Lewis handled the transaction on behalf of seller Lake Union Partners, a Seattle private development…

Adam Williams, a businessman in Lawrence, KS, has purchased the former Bargain Depot on 23rd Street in that city, and plans to convert that building into a 20,000-square-foot self-storage space. Another party is converting another 23rd Street retail property into the 33,000-sf University Self-Storage, at the Southern Hills Shopping Center. Absolute Storage Management will operate…

Saratoga, NY-based Prime Group Holdings continues its high-priced acquisition streak in New York City with the $26.5 million purchase of two adjacent facilities in Queens. The properties at 109-09 180th Street and 180-05 110th Avenue span a combined 106,000 square feet. The property previously operated as a Treasure Island Storage facility and was sold by Cayre…

Larkspur Properties, which is renovating the Yankee Station shopping center in Washington Township, OH, plans to build a self-storage facility there. Larkspur owner David Bernstein bought the center, 1510-1530 Miamisburg-Centerville Road, for nearly $2 million in November 2017. Source: WHIO Washington Twp. center that houses Original Pancake House will be renovated to lure new businesses…

Investors are still investing steadily in self-storage, although the rates of growth have slowed compared to recent years, according to CBRE’s latest Self-Storage Investor Survey. In conducting the survey, CBRE interviewed more than 50 market participants including buyers, brokers, owners (small and large operators including REITs, national and regional owners), investors, lenders and REIT analysts….

For years, institutional investors and equity funds mostly shied away from the self-storage sector. In 2015, they represented just 5 percent of self-storage acquisitions of at least $2.5 million, data from Marcus & Millichap Research Services and Real Capital Analytics shows. But the institutional tide keeps turning in self-storage. Through August of this year, institutional…