Transactions and Deals: September 13, 2021
posted on 9/13/2021 7:41:00 AM
Bancap Sells Northern California Storage
Bancap Self Storage Group brokered the sale of Loma Rica Self Storage in the Sierra Nevada Foothills of Grass Valley, California. Dean Keller was the listing agent and sole broker of the transaction. The buyer is a first time self storage investors.
SROA Buys StayLock
An investment fund managed by SROA Capital LLC has acquired StayLock Storage from investment firm Cequel III and private-equity company Thompson Street Capital Partners. StayLock operates 79 facilities in eight states. SROA Capital operates Storage Rentals of America and Storage Zone brands. The facilities will be rebranded as Storage Rentals of America.
Tenant Partners with XPS Solutions
Tenant Inc. has created an application programming interface (API) between its Hummingbird property management software and the call-center services provided by XPS Solutions. The API will create a “centralized rental ecosystem” that allows XPS agents to handle customer calls on behalf of self storage operators who use Hummingbird.
Bellomy Sells K2 in Texas
Bellomy & Co. brokered the sale of K2 Storage in Seguin, Texas, near Austin.
Bill Bellomy and Michael Johnson represented KTCK2 Management LLC, the Bandera, Texas-based seller. The team also procured the New York based buyer, AGAP Seguin Lettau LLC.
Janus Buys ACT
Janus International Group, Inc. has acquired Access Control Technologies, LLC, a provider of self storage access control and low voltage installation and integration services. ACT’s integration will support the growth of the Nokē Smart Entry system. ACT will continue to operate under its own brand and will merge into Janus’ field services team.
Kentucky’s Dixie Storage Sells
Marcus & Millichap brokered the sale of Dixie Storage, a two property self storage portfolio in Radcliff, Kentucky. Gabriel Coe and Brett R. Hatcher had the exclusive listing to market the properties on behalf of the seller and also secured and represented the buyer in the transaction.
Boardwalk Launches Investment Fund
Boardwalk Development Group has launched its fourth investment fund. Fund IV will acquire self storage assets throughout the southeastern US. BDG raised $15 million in equity for the fund and plans to acquire 12 to 15 properties.
SkyView Transacts Two Sales
SkyView Advisors brokered the following sales:
Stor 4 Dayz, a self storage facility in the Orlando, Florida MSA. SkyView's Zachary Urow and Ryan Clark represented the seller.
A facility managed by Extra Space Storage in San Antonio, Texas. Urow and Clark represented the seller in the transaction.
Smartstop Buys in Arizona
Strategic Storage Trust VI, Inc. has acquired a self storage facility in Surprise, Arizona. The property was completed in 2017 and is 87% occupied. This is the fourth acquisition in the newly formed SST VI and the sixth property owned or managed by Smartstop in the Phoenix market.
Smartlock to Develop in Missouri
Smartlock Self Storage has acquired the Fancy Flamingo Flea Market in the village of Airport Drive near Joplin, Missouri, according to The Joplin Globe. Smartlock Self Storage operates fully automated storage units.
10 Federal Sells North Carolina Asset
RJR Road LLC of Burlingame, California, paid $3.7 million to purchase a 10 Federal Self Storage facility in Winston-Salem, according to the Winston-Salem Journal. The seller was 10FSS Indiana Ave LLC of Raleigh, an affiliate of 10 Federal.
New StorageMart Opens in Kansas
StorageMart Self Storage has opened a new store in Overland Park, Kansas.
Storage Deluxe Plans Queens Conversion
Storage Deluxe has purchase the Astoria Sports Complex in Queens, New York, and intends to convert it to self storage, according to The Real Deal.
Storage Deluxe bought the building for $20 million. The company plans to add seven stories atop the structure and open by early 2023.
West Coast Managing Washington Storage
Summit Storage will open a new self storage facility in Kennewick, Washington. West Coast Self Storage Group will manage the property, which was developed by Matson Development LLC, and D&D Tri-Rivers Excavating, Inc.
PTI Creates API with Self Storage Manager
PTI Security Systems has developed an application programming interface (API) with cloud-based, property management software Self Storage Manager through its access-control software StorLogix Cloud. The addition provides StorLogix Cloud users with a cloud-to-cloud integration between the two applications that provides real-time synchronizing.
Tags: Bancap Self Storage Group
, StayLock Storage
, XPS Solutions
, K2 Storage
, Janus International Group
, Dixie Storage
, Boardwalk Development Group
, SkyView Advisors
, Smartlock Self Storage
, 10 Federal Self Storage
, Storage Deluxe
, Summit Storage
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