Pogoda Expands Portfolio by Six

Pogoda Companies acquired six self storage properties in Indiana, Kentucky and Michigan. The facilities are in Evansville, Indiana, and Monroe, Michigan, and four more in Owensboro, Kentucky. In all, Pogoda purchased 12 self storage facilities in 2021 and expects to buy a similar number in 2022. The properties have been rebranded as National Storage Centers.

 

KKR Launches Alpha Storage

 

KKR has launched Alpha Storage Properties, and former Jernigan Capital president and CIO Jonathan Perry will be Alpha Storage Properties’ CEO, according to IPE Real Assets. KKR will seed the platform with 16 self storage assets acquired in recent months for about $300 million. The portfolio spread across Austin, Atlanta, Charlotte, Denver the Inland Empire, Nashville, Orlando and Phoenix.

 

Russell Named Top CEO

 

Comparably.com has named Public Storage CEO Joe Russell one of the Top 100 highest-rated CEOs of 2021. The ratings are drawn from anonymous employee feedback over the year. Russell was named to the list of CEOs from large companies with more than 500 employees.

 

Hobin Promoted to CIO

 

The William Warren Group promoted Tim Hobin to the role as Chief Investment Officer. As CIO, Hobin will guide the company’s real estate team on investment strategy, mentor leadership and real estate managers and drive the company toward investment return objectives. Hobin was previously executive vice president of real estate.

 

Metro Sells 23 to Life Storage

 

Life Storage Inc. has purchased a 23-property portfolio from Metro Storage LLC for $369 million. The portfolio includes 12 facilities in Tampa, Florida; eight in Atlanta; and three in Chicago. Marc Boorstein of MJ Partners Real Estate Services represented both buyer and seller in the transaction.

 

SkyView Brokers Florida Site

 

SkyView Advisors managed the sale of an Ellenton, Florida self storage development site in the North Port-Sarasota-Bradenton metro area. SkyView's Zachary Urow and Ryan Clark represented the seller in the transaction.

 

Rents Decline, Outlook Strong

 

Self storage rents continued to decline for the third consecutive month in November, but demand for storage remains strong, according to Yardi Matrix. Street-rate rents dropped to 6.7% for the average 10×10 non-climate-controlled units, year-over-year in November, and same-size climate-controlled units declined to 8.2%. There were 2,943 self storage assets in various stages of development as of November. New York leads the nation in development activity in November, with projects under construction or in the planning stages accounting for 18.7% of existing stock.

 

U-Haul Developing in New Mexico

 

U-Haul is developing a new retail, moving and self storage facility in Los Lunas, New Mexico. The project is scheduled for completion by 2023. U-Haul acquired the 9.81-acre property in November.

 

SpareBox Gains Four Southern Stores

 

SpareBox Storage acquired four storage properties from multiple sellers in Northwest Arkansas and Spartanburg, South Carolina. SpareBox continues to grow its platform in Northwest Arkansas and has established a new presence in the rapidly growing Greenville - Spartanburg market.

 

Ontario’s Apple Makes Buy

 

Apple Self Storage acquired a self storage facility in Barrie, Ontario, previously known as Barrie Southend Public Storage. The facility has been rebranded as Apple Self Storage – Barrie South.

 

Talonvest Secures $111M Financing

 

Talonvest Capital, Inc. secured $111.5 million of permanent financings for several self storage clients in recent weeks.  The loans were funded with national banks and secured by assets located in Texas, California, Illinois, and Nevada. The loans were secured for The Jenkins Organization and William Warren Group. Talonvest team members involved in these financings included Kim Bishop, Eric Snyder, Erich Pryor, Mason Brusseau, and Ivan Viramontes.