New Mexico Next Frontier for Pinnacle

 

Pinnacle Storage Properties, based in Katy, Texas, acquired six self storage properties in southeastern New Mexico, in the cities of Carlsbad, Artesia, and Eunice. Pinnacle Storage Properties is a privately held, national real estate owner-operator focused on the acquisition, development, and management of self storage assets.

 

Marcus & Millichap Sells Ozark Portfolio

 

Marcus & Millichap brokered the sale of the Ozark Storage portfolio, a 3-facility portfolio located in Harrison, Arkansas. Christopher R. Secreto and Samuel Olson represented the seller, a local private investor, and secured the buyer, a fund manager.

 

Self Storage Plus Grows in Florida

 

Self Storage Plus has added a second Florida management assignment, this time in Panama City, Florida. Self Storage Plus is based in the Washington, D.C. area.

 

Storage Post Makes New Jersey Buy

 

Storage Post Self Storage purchased a self storage facility in south Linden, New Jersey. Storage Post-Linden South was renovated in 2019.

 

Metro Opens in New Jersey

 

Metro Storage LLC opened its newest self storage facility in Woodbridge, New Jersey.

 

Compass Adds Orlando Property

 

Compass Self Storage opened a new property in Orlando, Florida, its 30^th in the state. Compass is a member of the Amsdell family of companies.

 

Storage King Acquires Texas Locale

 

Andover Properties acquired a self storage facility in Argyle, Texas, its 40^th in the state. The property will be branded Storage King USA.

 

Work Starts on Miami Storage

 

Las Vegas-based Schulman Properties began construction on a self storage facility in North Miami Beach, Florida. Schulman bought the property in July.

 

Merit Hill Bets on Bayou

 

Merit Hill Capital has purchased the Louisiana Self Storage portfolio in Baton Rouge, Louisiana. Scott Schoettlin of SkyView Advisors represented the seller, Tunbridge Peak, a Utah-based real estate investment company.

 

SecureSpace Adds in Washington

 

SecureSpace acquired Stadium Storage in Everett, Washington. SecureSpace is based in Torrance, California.

 

iBorrow Lends on New Jersey Conversion

 

iBorrow, a nationwide private direct lender for commercial real estate, provided financing to support the acquisition and conversion of a former industrial property into self storage in Clifton, New Jersey. iBorrow is a direct lender that provides short-term bridge financing.

 

TSSA Supports Shriners

 

Texas Self Storage Association presented Shriners Children’s Texas with a check totaling $253,753 at its San Antonio luncheon, bringing TSSA’s total donations to date to over $2 million. TSSA has spearheaded fundraising efforts for Shriners for over 20 years.

 

American Fund Launches

 

American Self Storage Equity Partners LLC and American Self-Storage Management Group LLC, have launched Self-Storage Fund of America LLC to acquire and operate self storage facilities in the Southeast, including Texas. The 506(c) offering intends to raise $7.8 million through accredited investors. The fund will specialize in unmanned self storage properties.