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18

Transactions and Deals: November 19, 2021

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Transactions and Deals: November 19, 2021

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.

 

 

 

| Categories: | Tags: Storage West, CubeSmart, Simply Self Storage, Meridian Storage Group, Life Storage, StorQuest, Peterson Companies, Storage Star, SkyView Advisors, Stein Investment Group, Midcoast Properties | View Count: (252) | Return

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