Transactions and Deals: November 19, 2021
posted on 11/18/2021 11:05:00 AM
CubeSmart to Acquire Storage West
CubeSmart has entered into an agreement to acquire 100% of the outstanding partnership units of LAACO, Ltd., the owner of the Storage West platform for approximately $1.69 billion. Storage West is the owner and operator of 59 self storage assets in Southern California (22), Phoenix (17), Las Vegas (13), and Houston (7).The transaction is expected to close in the fourth quarter of 2021.
Simply Buys Storage Choice Portfolio
Simply Self Storage acquired the 14-property Storage Choice portfolio in the Dallas and Houston, Texas, metropolitan areas. Simply now has 29 properties in Texas. Storage Choice was represented by Newmark Group, Inc., led by Aaron Swerdlin and Kenneth Cox. Simply Self Storage is a Blackstone portfolio company.
Meridian Brokers Storage Authority
Meridian Storage Group brokered the sale of Storage Authority in Land O' Lakes Florida. Patrick Kidder and Taylor Dooley represented the seller in the transaction and procured the purchaser, a national operator.
Life Storage Buys in Nashville
Life Storage has purchased a self storage facility in Nashville. Life Storage paid $16.15 million for the property near Midtown, according to the Nashville Post.
Invesco Real Estate partnered with Baranof Holdings to acquire a self storage facility in Chandler, Arizona. JLL Capital Markets arranged the $12.3 million transaction on behalf of the seller, Pegasus Group. CubeSmart manages the asset.
StorQuest Opens Brooklyn Store
StorQuest Self Storage has opened its second location in Brooklyn, New York, and 10th in the state. StorQuest is owned and operated by the William Warren Group.
DC Developer Launches Storage Division
Peterson Companies has formed a self storage division and promoted Jim Mertz to senior vice president, self storage. Peterson Cos is one of the largest privately-owned real estate development companies in the Washington D.C. region with a history of developing prominent retail, residential and office developments including National Harbor. Peterson opened its first self storage facility in 2018. CubeSmart manages all of Peterson’s locations.
Storage Star Adds in Denver
Storage Star purchased Storage Star Denver and expanded its portfolio to 35 facilities. The property is Storage Star’s third self storage facility in Colorado.
SkyView Brokers Denver Facility
SkyView Advisors brokered the sale of Life Storage-managed property in Denver, Colorado. SkyView's Zachary Urow and Ryan Clark represented the seller.
Stein Plans Ohio Storage
Stein Investment Group has received preliminary site approval for a self storage facility in Mentor, Ohio, according to the News-Herald.
Midcoast Arranges Pine Island Sale
Midcoast Properties has arranged the sale of Pine Island Storage in St. James City, Florida. Michael Morris of Midcoast Properties represented both parties. The buyer was a private investor.
Tags: Storage West
, Simply Self Storage
, Meridian Storage Group
, Life Storage
, Peterson Companies
, Storage Star
, SkyView Advisors
, Stein Investment Group
, Midcoast Properties
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