Transactions and Deals: November 3, 2022
posted on 11/3/2022 11:56:00 AM
Berkshire Hathaway Sells Maryland Asset
Berkshire Hathaway brokered the sale of CubeSmart Self Storage (managed) in White Marsh, Maryland. Camerone Vale and Parker Sweet represented the seller, a private developer, and secured the Texas-based buyer.
Riley Named President of IRE
Investment Real Estate has promoted Chris Riley to president and chief operating officer, succeeding John Gilliland. Riley was previously CFO and COO. In that role, Riley helped secure Moove In Self Storage’s partnership as a PRO of National Storage Affiliates.
Andover Buys Colorado Asset
Andover Properties has acquired IN Self Storage in Colorado Springs, Colorado, for $4.6 million. The property will operate under the Storage King USA brand. Marcus & Millichap brokers Adam Schlosser, Charles LeClaire and Thomas Parsons represented the seller.
Firm Makes Spanish Investment
PineBridge Benson Elliot has purchased a controlling stake in Necesito un trastero, the second largest self storage operator in Spain. Necesito un trastero was founded in 2015 and operates 81 franchises.
SkyView Expanding to Manufactured Housing
SkyView Advisors will expand into the manufactured housing sector providing investment sales expertise. Aaron Sanchez has been named senior vice president of manufactured housing.
Arcland Buys Two DC-Area Assets
Arcland Property Company acquired two facilities in Alexandria, Virginia and Kensington, Maryland. The Maryland property is one of the largest facilities in the Great D.C. area. The properties will be rebranded as Self Storage Plus.
Marcus & Millichap Sells Outdoor Storage
Marcus & Millichap brokered the sale of Dove Valley Outdoor Storage in Englewood, Colorado. Charles "Chico" LeClaire and Adam Schlosser marketed the property on behalf of a national private equity group. The buyer was a local partnership group.
Moove In Adopts A Highway
Moove In Self Storage’s corporate employees participated in the Adopt A Highway cleanup program in September by picking up trash alongside Greenbriar Road in York, Pennsylvania.
Sentry Releases Results
Sentry Self Storage Management announced operating results for the third quarter 2022. Among the highlights are:
Same store revenue growth measured 20%, and net operating income (NOI) finished with a 22% year over year same store increase.
Quarter over quarter, revenue grew by 2%, operating expenses increased by 3%, and net operating income increased by 2%.
Third-party management and company-owned facilities include 23 facilities.
Franklin Street Sells North Carolina Asset
Franklin Street brokered the sale of Island Self Storage in Frisco, North Carolina. David Perlleshi and Frank DeSalvo managed the transaction.
Store Space Promotes Thomas
Store Space Self Storage has promoted Dijonnais Thomas to real estate development associate. Thomas joined Store Space in April.
Pogoda Adds Indiana Storage
Pogoda Companies acquired the former Ameri-Guard Storage Center in New Albany, Indiana. The property will be rebranded National Storage.
Talonvest Helps 1789 Close Loan
Talonvest Capital, Inc. closed a $34 million bridge loan for 1784 Holdings. The loan is secured by a storage facility in Hawthorne, California. The Talonvest team included Jim Davies, Tom Sherlock, Kim Bishop, Mason Brusseau, and Thalia Tovar.