Transactions and Deals: December 2, 2022
posted on 12/2/2022 10:09:00 AM
Barings Bets on Carolinas
Barings has taken majority ownership in a portfolio of 16 self storage properties in the Carolinas. The portfolio is valued at $109 million. The acquisition is part of a joint venture with Canvass Capital announced in May. The JV seeks to invest up to $250 million in self storage.
Marcus & Millichap Sells in Texas, Utah
Marcus & Millichap brokered the following transactions:
Security Mini Storage in Beeville, Texas. Dave Knobler and Charles "Chico" LeClaire marketed the property on behalf of a Nevada-based seller and secured the Colorado-based LLC buyer.
Storage General – Layton in Layton, Utah. Jordan Farrer and Adam Schlosser represented the seller, a local investment and development group, and procured the buyer.
Sauls Sells Georgia Assets
Sauls Storage Group completed the recent transactions:
Crossroads Mini Storage in Thomasville, Georgia. Sauls represented the seller.
A&D Mini Storage in Lawrenceville, Georgia. Mike Patterson represented the seller.
Lindsey Sells 10 Federal in Durham
Lindsey Self Storage brokered the sale of a 10 Federal Self Storage in Durham, North Carolina. John Lindsey managed the transaction and sold the property to a private buyer.
GLP Raises $1.58B for Storage
GLP Capital Partners US raised $1.58 billion in the final close of its inaugural North American self storage real estate fund. GCP SecureSpace Property Partners was oversubscribed.
InSite Buys Seattle Property
InSite acquired Lake City Mini-Storage for $18.5 million in Seattle, Washington.
SkyView Advisors brokered the sale of RV Vault in Cape Coral, Florida. Hunter Sells and Scott Schoettlin managed the transaction.
Guardian Opens in Pennsylvania
Guardian Storage opened a new location in Hanover Township, Pennsylvania. The facility is called Allentown Airport Road.
Storage Authority Grants 2 Franchises
Storage Authority has granted two new franchises to owners in Tennessee and New Jersey. Storage Authority has awarded 11 franchises in 2022, a record for the business.
Midcoast Brokers South Carolina Deal
Midcoast Properties Inc. brokered the sale of Fish Hatchery Self Storage in West Columbia, South Carolina. Michael Morrison represented the regional buyer.
MakoRabco Hires Maynard
MakoRabco hired Jeremy Maynard as executive vice president of the West Coast offices, headquartered in Carlsbad, California. Maynard will be responsible for project execution and supply chain. MakoRabco is a nationwide supplier of buildings and construction-related services.
Talonvest Closes Platinum Loan
Talonvest Capital, Inc., recently closed an $8.5 million loan for Platinum Storage Group, secured by a storage property in Beaumont, California.
Merit Hill Adds in Florida
Merit Hill Capital acquired a storage facility in Davie, Florida, for $17.5 million. The seller was an affiliate of Everest Properties.
Tenant Integrates with swivl
Tenant Inc. announced a new technology integration with swivl's conversational AI automation platform. swivl's AI chatbot can answer hundreds of questions regarding different self storage topics. It is the first of its kind in the self storage market, with an industry specific natural language processing model, the same technology used to power Siri and Alexa, setting it apart from the more common chat providers.
Public Storage Recognized for ESG
Public Storage is the U.S. self storage sustainability leader on the 2022 GRESB Real Estate Benchmark, one of the world’s leading ESG benchmarks and reporting frameworks. Increasing its score by 18% to 80 out of 100 possible points, Public Storage ranks highest amongst its U.S. peer group for sustainability and was awarded an "A" rating for public disclosure in 2022.
, Marcus & Millichap
, Sauls Storage Group
, Lindsey Self Storage
, GLP Capital Partners
, Guardian Storage
, Storage Authority
, Midcoast Properties
, Merit Hill Capital
, Tenant Inc.
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