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Transactions and Deals: February 5, 2021

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Transactions and Deals: February 5, 2021

Kyle, Texas Storage Changes Hands


Texas-based Bellomy & Co. brokered announced the sale of Kyle Premier Storage in Kyle, Texas, near Austin. Bill Bellomy and Michael Johnson of Bellomy & Co. represented William R. Holms, the Kyle-based seller. The team also secured the Delaware based buyer, AGAP Kyle, LLC.


PSA Builds New in West Houston


Public Storage opened a new facility in West Houston, Texas, according to REBusinessOnline. The site previously housed a self storage property that was demolished to make way for the new facility built by Triad Construction Inc.


Cleveland Suburb Limits Storage


The Parma, Ohio, City Council approved two new ordinances designed to limit self storage development in the city. The vote follows a six-month moratorium. To be approved, new self storage projects must be at least one mile from any other existing facility. Design must be approved by the planning commission and meet specific architectural requirements. Outdoor vehicle storage will no longer be permitted.


Earnings Calls Scheduled


Self storage’s public REITs will begin announcing Q4 results later this month.

Life Storage, Inc., (NYSE:LSI), will issue financial results for the quarter after the market closes on Monday, February 22. A conference call is Tuesday, Feb. 23, at 9:00 a.m. EST.

National Storage Affiliates (NYSE:NSA), will host a call at 12 pm EST on Tuesday, Feb. 23.

Extra Space Storage, (NYSE:EXR), will issue financial results for the quarter after the market closes on Monday, Feb. 22. A conference all is Tuesday, Feb. 23 at 1 pm EST.

Public Storage (NYSE:PSA), will release results after the markets close on Wednesday, Feb. 24 and will host a conference call on Thursday, Feb. 25 at 1 pm EST.

CubeSmart (NYSE: CUBE) will release financial results for the three-month period ended December 31, 2020 after the market close on Thursday, Feb. 25, 2021. An accompanying conference call will be held at 11:00 a.m. ET on Friday, Feb. 26.


EquiCap Brokers in Illinois


Scott Rihm and Jesse Luke of EquiCap Commercial brokered the closing of Hwy 41 Storage in Park City, Illinois. The sellers are local operators. The buyer is a local, first time buyer.


Storage Headed to Seattle Site


The site of the former Yarington's Funeral Home in Seattle will become a self storage facility, according to Westside Seattle.

A corporation called WA SS 16 AVE 20, LLC out of Miami, Florida filed a notice regarding plans to build a facility there.


City Line Adds 8 to Portfolio


City Line Capital acquired eight properties in December 2020 in Pennsylvania, West Virginia, Louisiana and Florida. The portfolio consisted of five stabilized assets, two value-add assets, and one asset in early lease-up. City Line made its first self storage purchase in 2017 and now has 134 assets.

City Line Capital is a fully integrated real estate firm based in Bala Cynwyd, Pennsylvania.


Westport Gains New Boston Facility


SSG Development completed a new self storage facility in Needham, Massachusetts, according to Connect Boston. The facility will be acquired and managed by Westport Properties, Inc.


Meridian Brokers AAA in Florida


Meridian Storage Group brokered the sale of AAA Storage of Brevard located in Palm Bay, Florida. Patrick Kidder, president of Meridian Storage Group, represented the seller, a private LLC, and secured the buyer, a national operator.


Ideaz Launches MustGo Storage Tablets


Ideaz, LLC., has announced its MustGo Storage Tablets which protect personal property from musty odors and mold staining during storage.

MustGo Storage Tablets are a proactive solution designed for use in boxes, totes and bags where there is little or no air exchange. MustGo Storage Tablets protect everything from linens and documents to electronics.


Merit Hill Adds 2 Properties


Merit Hill Capital purchased two self storage facilities, one in West Columbia, South Carolina, and in Hamilton, Ohio, from a Las Vegas-based private investment group. Both seller and buyer representation was provided through Frank DeSalvo of Sands Investment Group and by Harold Kolbe of Southeastern Business Intermediaries, LLC.


Storage Headed to Maryland Mall


PREIT has signed a new lease for a self storage facility at Mall at Prince George's in Hyattsville, Maryland. The site will be developed by Poverni Sheikh Group, LLC. The facility is expected to open in Q1 2022.


Devon Converting Michigan Factory


Devon Self Storage has begun work to convert at old furniture manufacturing building in an opportunity zone in Grand Rapids, Michigan. The store is expected to open in July.


PSA Buys Arizona Portfolio


The LeClaire-Schlosser Group of Marcus & Millichap brokered the sale of a two-property portfolio managed by Extra Space Storage. The facilities are located in Scottsdale and Chandler, Arizona.

Charles "Chico" LeClaire, executive managing director investments, and Adam Schlosser, senior vice president investments, in the Denver, Colorado office, and Ryan Sarbinoff, vice president, in the firm’s Phoenix, Arizona office, had the exclusive listing to market the property on behalf of the seller, a joint venture between Vintage Partners, LLC and Blue Vista Capital Management.  

The buyer, secured by LeClaire and Schlosser, was Public Storage.


DXD Launches Fund


DXD Capital has launched DXD Self Storage Fund I to pursue self storage development. The goal is to raise $50 million for ground-up projects.

DXD Capital is a real estate and private equity firm based in Albuquerque, New Mexico.

DXD Self Storage Fund expects to break ground on its first project in Las Vegas, completing it in the first quarter of 2022. The facility will be managed by Public Storage Inc.


Friedman Joins SmartStop


SmartStop has hired Kevin Friedman as director of acquisitions. Friedman will be responsible for the underwriting of self storage acquisitions for SmartStop and affiliated companies, as well as developing relationships across the industry. 

Friedman comes to SmartStop from Metro Storage LLC where he was director of acquisitions. Friedman is a graduate of the University of Denver and a certified commercial investment member.


Trojan Buys Northwest Portfolio


CBRE brokered the sale of a self storage portfolio consisting of two properties located in Washington and Oregon. Nick Walker, Trevor Roberts and Morgan Windbiel represented the seller, a private investor. The buyer, Los Angeles-based Trojan Storage, was self-represented.


Storage Star Expands in Wyoming


Storage Star has purchased a new facility in Sheridan, Wyoming, the company’s 30th self storage facility and its 2nd in the state of Wyoming.

Storage Star hopes to acquire more assets in the region.






| Categories: | Tags: Kyle Premier Storage, Triad Construction, moratorium, REIT earnings, Hwy 41 Storage, City Line Capital, Westport Properties, AAA Storage, Ideaz, MustGo Storage Tablets, Devon Self Storage, DXD Self Storage Fund, Trojan Storage, Storage Star | View Count: (841) | Return

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