Talonvest Capital Inc., which is based in Irvine, CA, has closed $48 million of construction loans for self-storage facilities in Hawthorne, CA, and Portland, OR/Vancouver, WA. The Hawthorne transaction was $20 million for the William Warren Group to build a four-story, 113,625-square-foot site at 4959 W. 147th St., off the 405 Freeway. It’ll be an…

Williamsville, NY-based Life Storage Inc. purchased Storage Solutions in Sacramento, CA, from Los Angeles, CA-based Storage Solutions for $10.3 million. Once an expansion is completed, the facility, at 181 Main Ave., will offer 631 units in 84,240 net rentable square feet. The projected asking price was $13.5 million to $14.5 million. Classic Storage Detroit in…

Self-storage REIT Life Storage Inc. has beefed up its third-party management platform with the addition of a 42-facility portfolio owned by Brookwood Properties LLC. The portfolio encompasses 4 million square feet of storage in Louisiana, Mississippi and Texas. At least some of those facilities had been managed by Malvern, PA-based self-storage REIT CubeSmart. Now, Williamsville,…

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Dean Jernigan, a 34-year veteran of the self-storage industry, has stepped down from day-to-day management of self-storage financing and investment REIT Jernigan Capital Inc., with John Good replacing Jernigan as CEO and Jonathan Perry assuming the role of president. Jernigan hasn’t left the company he founded, though. He remains executive chairman of the Memphis, TN-based…

Unwilling to stomach lofty valuations for existing storage properties, executives at Public Storage continue to pour the self-storage REIT’s energy — and money — into development, redevelopment and expansion activities. “We, at the end of the day, really can’t make sense of a lot of the valuations,” Tom Boyle, chief financial officer of Glendale, CA-based…