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15

Transactions and Deals: February 15, 2023

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Transactions and Deals: February 15, 2023

Tulsa Asset Changes Hands

 

Strategic Development Group, LLC sold Woodlands Self Storage in Tulsa, Oklahoma. Brett Hatcher of Marcus & Millichap represented Arizona-based Strategic Development Group.

 

 

Franklin Street Sells Indiana Portfolio

 

Franklin Street brokered the sale of a two-property portfolio in Angola, Indiana. David Perlleshi and Frank DeSalvo represented the seller, HZ Capital Partners, LLC. The buyer is NT Investments, LLC.


 
 Ohio Town Starts Moratorium

 

Officials in Troy, Ohio, have imposed a 180-day moratorium on new applications for self storage developments. The move is intended to give city staff time to evaluate and recommend land-use regulations for the business use.

 

10 Federal Completes Funding Round

 

Raleigh, North Carolina-based 10 Federal completed the latest funding round of 10 Federal Self Storage Acquisition Company 4, LLC. This latest round generated an additional $11.2 million in equity, bringing the total capital raised to over $22 million. The offering aims to raise $100 million in equity.

 

Young Promoted at Store Space

 

Store Space Self Storage promoted Anthony Young to vice president of revenue management. Young joined Store Space in 2020.

 

Prime Group Buys Colorado CubeSmart

 

Prime Group Holdings acquired CubeSmart (managed) in Centennial, Colorado, for $6.1 million.
The seller was a private individual represented by Charles “Chico” LeClaire and Adam Schlosser of Marcus & Millichap. The property has been rebranded as Prime Storage.

 

California Greenlights GoStoreIt

 

GoStoreIt has received approval from the Chino Hills, California, planning commission to build a new facility, according to Champion Newspapers.

 

Andover Buys Florida Asset

 

Andover Properties acquired Eau Gallie Self Storage in Melbourne, Florida, from a private owner. The $4.2 million sale was completed out of bankruptcy action, according to Multi-Housing News. The asset will operate under the Storage King USA brand.

 

Neighborhood Portfolio Sells

 

Marcus & Millichap brokered the sale of a 26-property Neighborhood Storage self storage portfolio in and around Ocala, Florida. Nathan Coe, Gabriel Coe, and Brett Hatcher represented the seller and procured the buyer.

 

CBRE Brokers Deals

 

CBRE brokered the following sales:


•    Chino Mini Storage in Chino, California, for $18.8 million. CBRE represented the seller, Legacy Interests LLC, a private investor. The buyer was Irvine-based Westport Properties Inc.
•    Extra Space Storage (managed) facility in Chapel Hill, North Carolina, to Rosewood Property Company, for $24.8 million. CBRE represented the seller, Carolina Storage Partners, LLC, in the transaction.
•    A storage facility in Austin, Texas. CBRE represented the seller, global investment company KKR. The buyer was Extra Space Storage Inc.

 

 

 

 

 

 

| Categories: | Tags: Woodlands Self Storage, Franklin Street, regulations, 10 Federal, Store Space, Prime Group Holdings, GoStoreIt, Marcus & Millichap, Neighborhood Storage, CBRE, Moratorium | View Count: (764) | Return

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