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26

Transactions and Deals: March 26, 2021

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Transactions and Deals: March 26, 2021

Berkshire Hathaway Manages Deals

 

Berkshire Hathaway Storage Group of Greenville, South Carolina, brokered the following sales:

All Safe Storage in Athens, Georgia. The buyer was a private individual.

Amarillo Lock Storage in Amarillo, Texas. The seller was Watchman Properties and the buyer was a national REIT. Andrew Plunkett, Cameron Vale and Parker Sweet managed the sale.

 

2020 All-Time High for Sales

 

Self storage transactions hit an all-time high in 2020, according to Real Capital Analytics. Self storage sales were $7.7 billion, 33% higher than in 2019. Two transactions – BREIT’s acquisition of Simply Self Storage and Nexpoint’s acquisition of Jernigan Capital accounted for more than 25% of annual volume.

Single asset sales rose 13% year-over-year to $3.5 billion.

New development declined. RCA says the value of construction fell 20% in 2020 from 2019.

 

New Storage King in Colorado

 

Andover Properties, LLC acquired Stor-Mor Self Storage in Colorado Springs, Colorado. The property will be rebranded as Storage King, USA.

 

SST IV Merges with SmartStop

 

Strategic Storage Trust IV, Inc. has merged to become a subsidiary of SmartStop Self Storage REIT, Inc. The all-stock transaction had a value of approximately $380 million. The merger positions the combined company to achieve further economies of scale and drive incremental growth as it takes advantage of the benefits of a larger aggregate portfolio.

SmartStop acquired all of the real estate owned by SST IV, consisting of 24 wholly-owned self storage facilities located across nine states and six joint venture properties located in the greater Toronto area.

 

Landvest Buys Georgia Facility

 

Landvest Corporation based in Wichita, Kansas, has added Security Self-Storage in Atlanta, Georgia, to its portfolio.

 

Firm Designs San Antonio Conversion

 

DALLENBACH-COLE ARCHITECTURE designed Lockaway Storage @ Southcross in San Antonio, Texas. The design includes the conversion of the iconic San Antonio “Centeno” Super Market into storage with a conditioned drive-through loading area.

 

Marcus & Millichap Handles Mississippi Sale

 

Marcus & Millichap brokered the sale of Town & Country Self Storage in Pascagoula, Mississippi. Anne Williams and Matt Porter of the Williams Storage Group represented both the seller and the buyer in this transaction.

 

Lighthouse Adds in Indiana

 

Lighthouse Storage has opened a self storage facility in Batesville, Indiana. In January, Lighthouse Storage purchased a three-building facility from Valley Storage. This is the fifth Lighthouse Storage facility. A sixth is under construction in Boonville, Indiana.

 

PSA Bets on Baltimore

 

Public Storage is building a new storage facility in Baltimore near the Horseshoe Casino, according to SouthBmore.com. The project has been under construction since fall and was originally a Beyond Self Storage facility. It is expected to open next winter.

 

 

 

 

| Categories: | Tags: Berkshire Hathaway Storage Group, Self storage transactions, Storage King, SmartStop Self Storage, Strategic Storage Trust IV, Landvest Corporation, DALLENBACH-COLE ARCHITECTURE, Town & Country Self Storage, Lighthouse Storage | View Count: (760) | Return

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