Transactions and Deals: December 17, 2021
posted on 12/17/2021 9:42:00 AM
Storage Brings Christmas to Kids
Self Storage companies and their partners helped bring the holiday spirit to children around the country.
In San Antonio, Texas, Capco General Contracting held its biggest toy drive ever during its annual tradition to collect gifts benefiting the Salvation Army of San Antonio. The program aims to ensure that all of San Antonio’s children have a gift underneath their tree on Christmas morning. Capco employees, clients, suppliers and subcontractors reached their goal of supporting 125 children this holiday season, surpassing last year’s collections for 100 children.
Extra Space Storage’s headquarters team in Salt Lake City, Utah, provided 300 stockings full of gifts for children up to age 18. More than 100 Extra Space employees volunteered to pack and organize the stockings before sending them to charity partner, Kidz Kubby, a nonprofit created and managed by local foster families.
CubeSmart Grows Western Portfolio
CubeSmart has closed on the previously announced acquisition of LAACO, LTD., the owner of the Storage West self storage platform. With this acquisition, CubeSmart has added 59 assets to its portfolio. Of those, 22 are in Southern California, 17 in Phoenix, 13 in Las Vegas, and 7 in Houston.
Cayre Refis Queens Property
Cayre Equities has refinanced a New York City self storage asset, according to Commercial Observer. Bank Hapoalim provided a $32 million loan for the property managed by Treasure Island Self Storage and located in Queens’ Glendale neighborhood.
True Storage Opens in Massachusetts
True Storage opened its sixth self storage location in New Bedford, Massachusetts, according to South Coast Today. The facility is a converted former recycling transfer station. It is managed by Extra Space Storage.
GoldKey Sells in California
Placerville Mini Storage has purchased the GoldKey Self Storage facility in Diamond Springs, California, according to Costar. It was constructed in 1979.
Planet sells in New York
Planet Self Storage in Mt. Kisco, New York, has sold for $10.5 million. Nick Malagisi and Hans Hardisty of the SVN National Self Storage team, represented the sellers and the buyers.
SkyView Represents on Two Sales
SkyView Advisors brokered the following transactions:
Georgia Self-Storage portfolio, a 3-property portfolio located in the Atlanta-Sandy Springs-Alpharetta, Georgia, metro area. The properties are managed by CubeSmart and Extra Space. Zachary Urow represented the seller.
L&D Self Storage in the Raleigh-Cary, North Carolina metro area. David Zehendner and Ryan Clark represented the seller.
Marcus & Millichap Active in Deals
Marcus & Millichap arranged the following transactions:
Right Move Storage at Mainland City Centre Texas City, Texas. Dave Knobler and Charles "Chico" LeClaire had the exclusive listing to market the property on behalf of a Galveston County-based LLC.
US Storage Centers (managed) in Richmond, Texas. Knobler and LeClaire had the exclusive listing to market the property on behalf of a Texas-based partnership.
Ultimate RV & Boat Storage in Litchfield Park, Arizona. Christopher R. Secreto had the exclusive listing to market the facility on behalf of a limited liability company based in Arizona. Secreto also procured the buyer, a New York-based institutional investment firm. Ryan Sarbinoff assisted.
Extra Space Storage (managed) facility in Windsor Mill, Maryland. Ian Lindahl and Adam Schlosser had the exclusive listing to market the property on behalf of a Baltimore-based regional developer. Snapbox was the buyer.
Storage Acquisition Brokers Florida Deal
The Storage Acquisition Group brokered the sale of Pensacola Self Storage in Pensacola, Florida. Monty Spencer represented the buyer. Adam Schlosser of Marcus & Millichap represented the seller.
Compass Buys Two Properties
Compass Self Storage, a member of the Amsdell family of companies, has acquired two self storage centers St. Cloud, Florida, and Howell, Michigan.
Cohen Buys Large Virginia Beach Storage
Cohen Investment Group has acquired Castleton Commerce Center, a self storage complex in Virginia Beach, Virginia, from Prime Storage, according to Virginia Business. The complex is one of 11 storage properties Norfolk-based Cohen Investment Group has acquired in 2021. Eastern Union secured $58.15 million in bridge financing for the property.
Life Storage, Heitman JV for Purchase
Heitman LLC and Life Storage Inc. have formed a joint-venture partnership to acquire 13 newly constructed self storage properties located across seven metropolitan areas, according to Globe St.
The acquired properties comprise a mix of urban and suburban properties across Boston, Charlotte, Dallas, Naples, Nashville, Newark, and St. Louis.
Janus Asia Subsidiary Rebrands
Self storage builder Steel Storage Asia Pty. Ltd. will operate as Janus International (Storage Solutions) Asia Pty Ltd. beginning on Jan. 1. The company is a wholly owned subsidiary of Janus International Group, a global manufacturer and supplier of building solutions and access-control technology for the self storage industry. The rebranding is part of the companies’ 2020 acquisition agreement. Steel Storage provides Janus products and services to the Asia market.
Tags: Capco General Contracting
, Extra Space
, Treasure Island Self Storage
, True Storage
, GoldKey Self Storage
, Planet Self Storage
, SkyView Advisors
, The Storage Acquisition Group
, Compass Self Storage
, Cohen Investment Group
, Janus Asia
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