Transactions and Deals: November 10, 2022
posted on 11/10/2022 11:58:00 AM
Wisconsin Storage Opens
Rick Wellenstein, Nick Wellenstein and Tim Knepprath opened Pewaukee Self Storage in Pewaukee, Wisconsin.
Meridian Launching StorNow Brand
Meridian Development will launch a new self storage brand in 2023 called StorNow Self Storage. Meridian has nine properties in the portfolio.
CushWake Brokers Portfolio
Cushman & Wakefield brokered the sale of a seven-property in Arizona and Minnesota. They buyer was a national self storage company. The seller consisted of various partnerships owned and operated by Bill Levine and Andrew Cohn. Paul Boyle represented both parties.
Newmark Arranges Financing for Andover
Newmark arranged $360 million in financing for a 50-asset national self storage portfolio on behalf of Angelo Gordon and Andover Properties. The Newmark team included Jordan Roeschlaub and Dustin Stolly with Nick Scribani, Aaron Swerdlin and Taucha Hogue. Goldman Sachs provided the loan. Andover operates the Storage King USA platform.
Marcus & Millichap Handles Sales
Marcus & Millichap brokered the following sales:
AAA Storage in South Elgin, Illinois, for $11.65 million. Sean Delaney represented the seller, Shanahan Enterprises, LLC, and procured the buyer, Trojan Storage. Trojan is expected to develop a climate-controlled building.
Stor 4 Now in Longview, Texas. Danny Cunningham and Brandon Karr marketing the property on behalf of a Dallas private equity firm and secured the buyer, an Austin real estate investment company.
Shurgard Acquires in Paris
Shurgard Self Storage acquired a Box à la Carte facility located in Paris, France. Shurgard has 65 facilities in France.
Make Space Buys Two in Canada
Make Space Storage has acquired two locations of Estevan Public Storage in Saskatchewan, Canada. The properties will be rebranded.
Erbs, Storage Mall Merge
Erbs Management Group and The Storage Mall will merge to form The Storage Mall Management Group, a self storage management and consulting provider. Services will include property management, operations, marketing and revenue management.
Highline Buys on East Coast
Highline Storage Partners acquired a facility in Swansboro, North Carolina. The property will be rebranded as USA Storage Centers.