Transactions and Deals: December 3, 2021
posted on 12/3/2021 10:27:00 AM
Q-2 Portfolio Sells in Kentucky
Berkshire Hathaway brokered the sale of the Q-2 Self Storage portfolio in Louisville, Kentucky. The seller was a private investor, and the buyer was a Midwest private equity group. Cameron Vale, Andrew Plunkett and Parker Sweet represented the seller and security the buyer.
California’s MiniStorage Exploring Sale
MiniStorage, a Southern California-based self storage company, is exploring a sale, according to Bloomberg. The company is working with real estate brokerage Jones Lang LaSalle Inc. on the potential transaction. A deal could value MiniStorage at more than $400 million. The firm, also known as Self Storage Management Co., has 12 locations in California.
Blue Sky Buys in Arkansas
Blue Sky Storage acquired a three-property self storage portfolio in Hot Springs, Arkansas. Larry Goldman of Goldman Investment Advisors brokered the sale. Argus Professional Storage Management will manage the properties.
StorageMart Adds Maryland Storage
TD&A brokered StorageMart’s simultaneous purchase of Golden Ring Mini Storage in Rosedale, Maryland and Ritchie Mini Storage in Glen Burnie, Maryland. Steven Cornblatt and Coleman Tirone represented StorageMart in the transaction. The seller, subsidiaries of Mt. Royal Management, represented itself.
Shurgard Pursues Swedish Operator
Shurgard Self Storage Europe, the European affiliate of U.S.-based real estate investment trust Public Storage Inc., made a public cash offer to the shareholders of 24Storage AB in its bid to acquire the Swedish self storage operator. If approved, the acquisition would add 27 facilities to the Shurgard portfolio.
CBL Properties Divests Storage Portfolio
CBL Properties sold its self storage portfolio for $42 million. Developed with an unidentified joint-venture partner, the properties were connected to the company’s shopping-center interests in Beaumont, Texas, Chattanooga, Tennessee, Cincinnati, Ohio, and St. Charles, Missouri. Founded in 1979, CBL specializes in shopping-center investments.
U-Haul Converting Whiskey Rickhouse
U-Haul acquired the historic whiskey rickhouse in Lexington, Kentucky, and plans to turn it into a new self storage facility. The U-Haul Moving & Storage of Distillery District will serve nearby University of Kentucky.
Fort Knox Sells in South Carolina
Midcoast Properties, Inc. brokered the purchase of Fort Knox Climate Storage in Pendleton, South Carolina. Michael Morrison represented the buyer.
Treetop Set on New York Storage
Treetop Development intends to build a self storage facility on vacant land in Congers, New York, according to the Rockland County Business Journal. A company affiliated with Treetop Development bought the three parcels of land in 2020. Treetop Development is based in Teaneck, New Jersey.
Harrison Street Buys 26 Stores
Harrison Street acquired a portfolio of 26 self storage properties, according to REJournals. The portfolio will be operated under the Midgard Self Storage brand across Florida, Georgia, South Carolina, Tennessee, North Carolina and Arkansas. Reliant Real Estate Management, LLC, will manage the properties.
Storage Developers Buy San Jose Site
Colliers Self Storage Group brokered the sale of a self storage development site in East San Jose, California. The buyer was Braintree Properties LLC and San Jose 4 Storage Inv. LLC. Tom de Jong and Dana Chobor represented the sellers, City Ventures Homebuilding LLC and The Charter School Fund, LLC.
Burnam Honored by CEO Magazine
StorageMart CEO Cris Burnam was honored by CEO Today Magazine with its 2021 CEO Today USA Awards issue. The magazine celebrates success, innovation and strategic vision of CEOs across industries. StorageMart has over 250 locations in three countries.
, Q-2 Self Storage
, Blue Sky Storage
, Shurgard Self Storage Europe
, CBL Properties
, Fort Knox Climate Storage
, Treetop Development
, Midgard Self Storage
, Harrison Street
, Colliers Self Storage Group
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