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Transactions and Deals: March 23, 2023

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Transactions and Deals: March 23, 2023

Diamond Opens Maryland Life Storage


Diamond Point Development, LLC, in partnership with The Ardent Companies, opened a Life Storage in Frederick, Maryland.


Extra Space Eying Life Storage


After Life Storage rebuffed Public Storage’s $11 billion all-stock takeover of the company, Extra Space Storage is said to be considering making an offer. Bloomberg, Reuters and other media outlets reported this week that Extra Space may make an offer, causing Life Storage’s stock price to rise Wednesday.




Copper Launches C3 Call Center


Copper Storage Management launched C3, its call center solution for self storage owners and operators. C3 offers a full-service call center to handle rentals, reservations, and more. Integrating with management software, C3 provides access to recordings, collections, and conversions seven days a week, 12 hours a day in all four time zones.

Absolute Pushes West


Absolute Storage Management expanded its management services into Arizona and Colorado during the first quarter of 2023, the company’s first presence in the western United States. Absolute is one of the largest private, third-party self storage management companies in the U.S.


Talonvest Secures Loan


Talonvest Capital, Inc. closed a $114 million acquisition bridge loan secured by a 14-property portfolio of assets in Utah and California for William Warren Group. Talonvest team members responsible for the assignment were Kim Bishop, Eric Snyder and Ivan Viramontes.  


MV Plans Florida CubeSmart


MV Investment is developing a new storage facility in Winter Haven, Florida. The property will be managed by CubeSmart.


Versal Sells California Asset


Versal brokered the sale of Valley Center Self Storage, a fully entitled development site in Santa Clarita, California. Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne represented the seller, HPI Self Storage, LLC, an Austin, Texas based investor. Versal also procured a private buyer.


Marcus & Millichap Brokers Missouri Deal


Marcus & Millichap brokered the sale of Eldon Self Storage in Eldon, Missouri, for $1.5 million. Sean Delaney and Robert Cook marketed the property on behalf of the seller, a Missouri-based limited liability company, and secured the buyer, a Missouri-based limited liability company.


CushWake Index Falls


Cushman & Wakefield’s self storage performance index decreased 2.1% compared to Q3 2022 and increased 7.4% compared to Q4 2021. The index now stands at 176.3. C&W reports asking rental rates decreased 3% from Q3 2022 but remained up from 2021.


Makris Joins Marcus & Millichap


Marcus & Millichap hired Andreas Makris as senior associate for The Bledsoe Self Storage Group working with buyers and sellers in the Mid-Atlantic and Northeast markets.


Michigan Plans New Facility


Michigan Self Storage LLC intends to build a storage facility in Manistee Township, Michigan. The town planning commission has approved a site plan and special use permit, according to Manistee News Advocate.


SSGT Buys in Fort Myers


Strategic Storage Growth Trust III, Inc. acquired a facility in North Fort Myers, Florida. The property will operate at SmartStop Self Storage.


SAFStor Bets on Philadelphia


SAFStor, Inc. opened a facility in Philadelphia, Pennsylvania. Life Storage will operate the facility.


Miranda Joins LaTerra Development


LaTerra Development named Bryan Miranda as managing director to lead expansion of the company. Miranda was previously western regional vice president of Public Storage. LaTerra has a joint venture with a fund managed by Macquarie Asset Management to focus on storage development in Southern California.


CubeSmart Recognized for Engagement


CubeSmart was recognized as one of Achievers 50 Most Engaged Workplaces of 2023. This award recognizes top employers who demonstrate leadership in employee experience, recognition, and company culture.





| Categories: | Tags: Diamond Point Development, Life Storage, Copper Storage Management, Absolute Storage Management, Talonvest Capital, MV Investment, Versal, Marcus & Millichap, Cushman & Wakefield, Michigan Self Storage, SmartStop Self Storage, SAFStor | View Count: (1254) | Return

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