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Transactions and Deals: October 28, 2022

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Transactions and Deals: October 28, 2022

Argus Brokers Kansas Storage

 

Argus Self Storage Advisor Larry Goldman brokered the sale of Space Saver Storage in Lawrence, Kansas. The facility sold to Hess Tower, LLC. The property will be managed by Argus Professional Storage Management.

 

Life Announces CFO Change

 

Life Storage Inc CFO Andrew Gregoire will retire in January 2023. The company will promote Alexander Gress, vice president of finance, corporate planning and investor relations, to CFO.

"During Andy’s more than twenty-four-year career with us, Andy was instrumental in helping us successfully grow and scale into the national presence we have today across 37 states with over 1,100 properties,” said Joseph Saffire, CEO.

 

Red Dot Sells 33 Properties

 

Flatirons Asset Management has acquired a 33-asset portfolio from Red Dot Storage. The facilities are located in Alabama, Iowa, Illinois, Indiana, Missouri, Mississippi, Tennessee and Wisconsin. They will continue to operate under the Red Dot Storage brand.

 

EZ Storage Portfolio Trades

 

Marcus & Millichap brokered the sale of EZ Storage, a five-property portfolio across St. Louis, Missouri. Brett Hatcher, Nathan Coe and Gabriel Coe represented the seller and procured the buyer.

 

Moove In Adds in York

 

Moove In Self Storage acquired JLM Storage in York, Pennsylvania. The location will be called Moove In Chambers Road. Moove In intends to build an addition, with construction beginning in 2023. In addition, Moove In opened another new facility in York called Moove In Richland Avenue.

 

Schwanz Joins MakoRabco

 

MakoRabco has hired Dan Schwanz as vice president of construction for East Coast operations.  Schwanz was most recently project manager for Life Storage.

 

Deermount Hired at Ramser

 

Ramser Development Company hired Adam Deermount as chief investment officer. Deermount will be responsible for expanding Ramser’s portfolio of storage assets across the U.S.

 

SafeLease Adds Dashboard

 

SafeLease has launched a new client dashboard, the first in a series of technological advancements to help small- and mid-sized storage businesses. SafeLease provides a tenant-protection plan for storage operations.

 

Franklin Street Adds Storage Team

 

Frank DeSalvo and David Perlleshi have joined Charlotte, North Carolina-based Franklin Street to build a national practice focused on representing self storage owners and investors. Both joined as senior directors. Most recently, DeSalvo and Perlleshi were with Sands Investment Group.

 

Absolute Announces Results

 

Absolute Storage Management announced operating results:

For three months ending Sept. 30:

  • Increased same-store revenue by 12.5% compared to the same period in 2021.

  • Acquired eight (8) management contracts.

For nine months:

  • Increased same-store revenue by 16.0% vs. the same period in 2021.

  • Increased achieved rent per occupied unit by 19.3% over the same period in 2021. 

  • Added twenty-eight (28) stores to third-party management portfolio.

 

Extra Space Asia Being Acquired

 

APG Investments Asia Limited and CapitaLand Investment Limited have entered into a joint venture to establish an Asia-focused self storage platform. APG and CLI have committed an initial equity investment of S$570 million with an option to increase their investment up to S$1.14 billion to fund the acquisition of Extra Space Asia. Extra Space Asia was founded in 2007 and now has 70 owned and leased facilities across six Asian gateway cities – Hong Kong, Kuala Lumpur, Seoul, Singapore, Taipei and Tokyo.

 

Conference Raises Funds for Charity

 

Attendees of the Georgia/South Carolina Southeastern Self Storage Conference and Trade Show raised $12,470 for two charities, Let There Be Mom and Children’s Healthcare of Atlanta. The associations held an auction during their October annual conference.

 

StorageMart Buys Two in Virginia Beach

 

StorageMart has acquired the two-property AAAA Self Storage company in Virginia Beach, Virginia. The stores will be rebranded to StorageMart.

| Categories: | Tags: Argus, Life Storage, Red Dot Storage, EZ Storage, Moove In Self Storage, MakoRabco | View Count: (27) | Return

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