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30

Transactions and Deals: May 30, 2022

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Transactions and Deals: May 30, 2022

SkyView Guides Sales

 

SkyView Advisors brokered the following sales:

  • My Space Indoor Storage and Retail in South Bend, Indiana. Hunter Sells and Scott Schoettlin managed the transaction.

  • A two-property portfolio in Fort Mill, South Carolina. Schoettlin and Sells managed the transaction.

 

 

Barings, Canvass JV for Storage

 

Investment management giant Barings has entered into a joint venture with Canvass Capital to acquire and develop storage properties throughout the Southeastern US. The venture plans to invest up to $250 million into acquiring and developing storage in the Southeast. The partnership will acquire three assets near Charlotte, North Carolina.

 

Arcland Opens Maryland Asset

 

Self Storage Plus open a managed facility in Upper Marlboro, Maryland. Arcland Property Company developed the site.

 

Harris, Kanter Join Store Space

 

Store Space Self Storage has welcomed:

Stephen Harris as president of construction. Previously, Harris was vice president of development at Washington Prime Group Inc.

Shimon Kanter as vice president of development. He was previously with Poverni Sheik Group.

 

California Town Approves Storage

 

Temecula, California-based Steve Galvez of MHS 98 LLC, will build a facility in Murrieta, California, according to Patch.com. The Murrieta City Council approved a zoning change for the site.

 

Talonvest Aids on Bridge Loan

 

Talonvest Capital, Inc. and its client Reliant Real Estate Management along with their joint venture partner Harrison Street Real Estate are pleased to announce the funding of a $109 million bridge loan secured by a 10-property storage portfolio. The properties are located in Georgia, South Carolina and Colorado.

 

Rhino Expands in West Virginia

 

Rhino Storage Group opened a storage facility in Morgantown, West Virginia. Rhino operates 19 facilities.

 

Metal Sales Adds Capacity

 

Metal Sales, a supplier of metal construction products, has opened a new mill at the company’s Denver, Colorado facility, which will lead to shorter lead times. The new line expands Metal Sales’ secondary structural product offering. The company has also added a mill to its Mocksville, North Carolina branch.

 

Developer Plans New Jersey Storage

 

K-Land Corp plans to develop an Extra Space Storage in Howell, New Jersey.

 

Extra Space Sells in Massachusetts

 

The Storage Acquisition Group brokered the sale of an asset managed by Extra Space Storage in New Bedford, Massachusetts.

 

Sands Brokers North Carolina Asset

 

Sands Investment Group brokered the sale of Jacksonville Mini Warehouse in Jacksonville, North Carolina, to National Storage Affiliates. David Perlleshi managed the transaction.

 

Monster Opens New Store

 

Monster Self Storage opened a facility in Valdosta, Georgia. Adams Property Group manages storage properties in the southeast.

 

Midcoast Sells 3 in South Carolina

 

Midcoast Properties, Inc. brokered the sale of three properties in Irmo and Chapin, South Carolina. Michael Morrison represented the seller. The facilities sold to an out of state investment company.

 

Yardi: Rates Still Rising

 

National average storage rates rose $1 to $146 in April, matching the all-time high set last fall, according to the latest National Self Storage Report from Yardi Matrix.  Street rate growth, however, is decelerating because rates increased more dramatically in 2021. Street rates for 10x10 non climate-controlled units nationally increased 4.8% year-over-year in April, while rates for 10x10 climate-controlled units saw slightly less growth at 4.3%.

 

Absolute Releases Results

 

Absolute Storage Management announced operating results for the three months ending March 31.

Increased same-store revenue by 18.3% vs. the same period in 2021. Absolute acquired nine management contracts during that time.

 

Lindsey Adds Broker

 

Dezmon Fortenberry has joined Lindsey Self Storage Group as a broker. He is based in Destin, Florida.

 

Nunez Brokers Arizona Sale

 

The Nunez Self-Storage Group represented the Structured REA-Glendale Storage LLC, seller in the disposition of a storage asset in Phoenix, Arizona. Denise Nunez and Victoria Filice brokered the deal.

 

 

 

 

 

 

| Categories: | Tags: SkyView Advisors, Self Storage Plus, Store Space Self Storage, Talonvest Capital, Rhino Storage Group, Metal Sales, K-Land Corp, National Storage Affiliates, Monster Self Storage, Midcoast Properties, Yardi Matrix, Nunez Self-Storage Group | View Count: (1090) | Return

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