Transactions and Deals: June 13, 2022
posted on 6/13/2022 9:41:00 AM
Flex Storage Opens in Georgia
A new Flex Storage has opened in Canton, Georgia. The project is a joint venture between DYO Investments, MacArthur Holdings, and Live Oak Capital Partners. Max Design Group was the architect, and JM Williams was the general contractor.
Sands Sells in North Carolina
Sands Investment Group brokered the sale of All Star Self Storage in Lexington, North Carolina. David Perlleshi and Frank DeSalvo managed the transaction.
Hearthfire, Atomic Form Partnership
Hearthfire Capital and Hearthfire Self Storage, a real estate private equity firm and self storage division of Hearthfire Holdings, and Atomic Storage Group, a national full-service storage management company, formed a strategic partnership to develop a portfolio of storage assets across the Midwest and East Coast.
AI Lean Gains Investment
AI Lean, a software as a solution platform that automates tenant communications in the storage lien process, received a $1.9 million round of investment led by Launchpad Venture Group.
AI Lean uses artificial intelligence and lean process design to streamline lien property sales.
SkyView Brokers Sales
SkyView Advisors brokered the following sales:
RV Boat Storage Works in Fort Myers, Florida. Richard Riddle and Scott Schoettlin managed the transaction.
EZ Lock Self Storage in the greater St. Louis, Missouri area. Riddle and Schoettlin represented the seller.
Brink Building in Connecticut
Brink Self Storage intends to build a storage facility in the former Housatonic Wire Co. site in Seymour, Connecticut, according to the Valley Independent Sentinel.
LaTerra Turns to Storage
LaTerra Development established a storage development platform and formed a joint venture with a fund managed by Macquarie Asset Management. The venture will spend up to $300 million to develop storage in Southern California. The company has three projects underway. LaTerra is one of the largest multifamily developers in Los Angeles.
Life Storage Buys in Miami
Life Storage purchased a self storage facility in Miami, Florida for $17 million.
Public Storage Adds North Carolina Site
Public Storage purchased a self storage facility in Fuquay-Varina, North Carolina for $13 million.
Extra Space Joining Idaho Project
Rhino Investments plans to redevelop a Karcher Boulevard mall in Nampa, Idaho, with Extra Space Storage becoming the largest tenant, according to BoiseDev. The new development will be known as District 208.
Diamond Opening in Washington
Diamond RV & Heated Storage is nearing completion in Elma, Washington, according The Vidette. Construction began in June 2021.
Marcus & Millichap Active in California
Marcus & Millichap brokered the following sales:
Lake Elsinore Mini Storage in Lake Elsinore, California. Keith Phillips and Adam Schlosser marketed the property on behalf of the seller, a California-based LLC. The buyer is a national REIT.
International Self Storage in Highland, California. Phillips and Schlosser marketed the property on behalf of the seller, a California-based owner-operator. The buyer is a local operator.
Thorofare Funds Arizona Loan
Thorofare Capital, Inc. closed a $20 million loan to Raintree & Pima Self Storage Partners, LLC, an affiliate of Phoenix-based 1784 Capital Holdings, for Raintree Life Storage in Scottsdale, Arizona. Life Storage will manage the property when it opens in September.