Transactions and Deals: April 23, 2021
posted on 4/23/2021 9:25:00 AM
Woodlands Opens in Tulsa
Strategic Development Group, LLC has acquired of the former Kool Storage, now Woodlands Self Storage, in Tulsa, Oklahoma. 180 Self Storage will provide management.
Hines Sells Three in Phoenix
Global real estate firm Hines has sold a three-property self storage portfolio located in Phoenix, Arizona. All three properties were in early lease-up. William Warren Group, Inc. purchased the property located in Gilbert, Arizona. Guardian Storage purchased properties in Litchfield Park and Tempe.
Norman Herd, president of Quantum Property Advisors, represented Hines.
Brookwood Opens Life Storage
Brookwood Properties, of Baton Rouge, Louisiana, has opened a new facility in New Orleans. Life Storage manages the property. Rosehill Construction served as the general contractor, and Kaufman Design was the architect.
InSite Moves on Long Beach
Developer InSite Property Group has received approval from the Long Beach, California, city council to build a new self storage facility, according to The Grunion.
CBRE Sells Oregon Property
CBRE brokered the sale of a self storage facility in Tigard, Oregon. CBRE’s Nick Walker, Trevor Roberts, and Morgan Windbiel represented the seller, Arizona-based Wentworth Property Company. The buyer, Trojan Storage, is a self-represented private investor based out of California.
StorageMart Enters Lexington
StorageMart has entered the Lexington, Kentucky market with the purchase of the former Local Self Storage facility. StorageMart recently received a $2.7 billion enterprise valuation with backing by Bill Gates’ Cascade Investment LLC and GIC, the sovereign wealth fund of Singapore.
Baltimore Team Plans Development
Provemi Sheikh Group LLC and PV Asset Management, both of Baltimore, intend to build a new self storage building in Levittown, Pennsylvania, according to LevittownNow.com
IRE Brokers Upstate New York Set
The U-Store-It four-property portfolio in the Elmira/Horseheads, New York market has sold to a private buyer. Justin Quinto, a brokerage advisor for Investment Real Estate, brokered the deal.
SkyView Closes Three Sales
SkyView Advisors brokered the following sales in which Zachary Urow and Ryan Clark represented the seller.
Advanced Self Storage in Pittsburgh, Pennsylvania.
Extra Space Self Storage on Davis Blvd in Naples, Florida.
Extra Space Self Storage on Mason Road in Richmond, Texas.
Indiana Kroger to Convert
Tiptonia Partners LLC, based in Indianapolis, has purchased a vacant Kroger supermarket in Columbus, and plans to develop self storage, according to The Republic. Extra Space Storage will manage the facility.
SmartStop Buys in Ontario
SmartStop Self Storage REIT, Inc, has acquired a recently built self storage facility in Oakville, Ontario, Canada. The property was completed in April 2020. This is SmartStop's 17th owned or managed location in the Greater Toronto Area.
Marcus & Millichap Brokers Idaho Deal
The LeClaire-Schlosser Group of Marcus & Millichap brokered the sale of StorageBay Rexburg in Rexburg, Idaho. Jordan Farrer, investment associate, and Adam Schlosser, senior vice president investments, procured the buyer.
Talonvest, ASB Secure Financing
ASB Real Estate Investments and Talonvest Capital secured $116 million in financing on behalf of Allegiance Real Estate Fund. Invesco Real Estate provided the three-year, floating-rate loan. Allegiance acquired the 10-facililty portfolio in 2018, in a partnership with the William Warren Group.
The Talonvest financing team included Eric Snyder, Kim Bishop, Jim Davies, Tom Sherlock, Lauren Maehler, and Mason Brusseau.
Tags: 180 Self Storage
, Brookwood Properties
, InSite Property Group
, Trojan Storage
, Investment Real Estate
, SkyView Advisors
, LeClaire-Schlosser Group
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