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Transactions and Deals: April 20, 2023

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Transactions and Deals: April 20, 2023

NexPoint Launches Fund

 

NexPoint has launched NexPoint Storage IV DST and acquired two assets in Phoenix, Arizona and another in St. Petersburg, Florida. The fund aims to raise $70.3 million. The assets are managed by Extra Space Storage.

 

 

 

 

Liberty Builds Fund

 

Liberty Investment Properties has raised over $43 million in equity for its Liberty Storage Fund II, which has acquired 10 storage assets. Liberty recently partnered with StoreEase Virtual Management.

 

Store Space Elevates Wight-Sands

 

Store Space Self Storage has named Michelle Wight-Sands vice president of culture & organizational development. Wight-Sands joined Store Space in 2018.

 

REITs Plan Earnings Calls

 

The public self storage REITs have announced earnings calls for Q1 of 2023. They are as following:
•    CubeSmart will host a conference call on Friday, April 28, at 11 am EST.
•    National Storage Affiliates will host a call Tuesday, May 2 at 1 pm EST.
•    Life Storage Inc. will host a call on Wednesday, May 3, at 9 am EST.
•    Extra Space Storage will host a call on Wednesday, May 3 at 1 pm EST.
•    Public Storage will host a call on Thursday, May 4 at 9 am PST.

 

10 Federal Promotes Leaders

 

10 Federal has named new members of leadership.
•    Brian Oakley has been appointed vice president of technology.
•    Trent Erickson has been appointed vice president of accounting.
•    Kris Gunther has been appointed to vice president of human resources.

 

Yardi: Street Rates Fall


Self storage street rates continue to fall from last year’s historic highs, according to Yardi Matrix. Year-over-year street rate growth was negative for the sixth straight month, down 2.3% for non-climate-controlled 10x10s and down 3.4% for the same in climate-controlled units.  

 

Onity Partners with Extra Space

 

Onity has an agreement with Extra Space Storage, Inc. to integrate Onity’s DirectKey™ technology into Extra Space’s customer mobile app. Extra Space will also try Onity’s newly released Passport™ locking solution for the storage industry. Onity is part of Carrier Global Corporation, which provides electronic access solutions and mobile credentialing.

 

Tenant Integrates with MiniCo

 

Tenant Inc. has created a product integration with MiniCo Insurance Agency. The partnership will streamline the insurance claims and collection process for operators using Tenant’s Hummingbird software.

 

Janus Releases Nokē Contact

 

Janus International Group, Inc has released Nokē Contact, an on door, contact charged, hardwired smart locking solution, into the line of Nokē Smart Entry products. Janus’s Nokē Smart Entry platform also offers a high-tech, battery-powered external smart locking solution, known as Nokē ONE. Nokē Contact is an easily installed, hardwired smart lock that fits directly onto the unit door with an innovative, yet simplified design.

 

10 Federal Buys Georgia Assets

 

10 Federal acquired the ASAP Storage portfolio which includes three properties in Temple and Villa Rica, Georgia.

 

Franklin Street Sells Illinois Asset

 

Franklin Street brokered the sale of a facility in Watseka, Illinois. Frank DeSalvo and David Perlleshi represented Pebble Ridge Capital in the sale. The buyer is Just Simple Storage.

 

Absolute Gains Missouri Contract


The new ownership group of Jane Self Storage in Jane, Missouri, has selected Absolute Storage Management to manage the facility.

 

Talonvest Closes Loan for York RE


 
Talonvest Capital closed a $24.7 million loan for York RE Capital Partners for two properties in Venice and Naples, Florida.

 

William Warren Promotes Siegel

 

The William Warren Group has promoted Rona Siegel to national director of third party management. Siegel joined WWG in 2016 as district manager.

 

Storage Coming to Massachusetts

 

Spot on Storage LLC of Catskill, New York, has received approval to build a storage facility in North Adams, Massachusetts.

 

 

 

 

 

| Categories: | Tags: NexPoint, Liberty Investment Properties, REIT, Yardi Matrix, Onity, Tenant Inc, Janus International Group, 10 Federal, Franklin Street, Absolute Storage Management, Talonvest Capital, Spot on Storage | View Count: (1700) | Return

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