Transactions and Deals: October 19, 2023
posted on 10/19/2023 4:00:00 PM
Devon Opens in Michigan
Devon Self Storage opened a new facility in Warren, Michigan.
Earnings Calls Scheduled
The self storage sector’s public REITs are set to release earnings results. Here’s the schedule for those earnings calls:
• Public Storage will host a Q3 earnings call on Tuesday, Oct. 31, at 12 pm EST.
• Extra Space Storage will host a call Wednesday, Nov. 8 at 1 pm EST.
• CubeSmart will host a call Friday, Nov. 3 at 11 am EST.
• National Storage Affiliates will host a call Thursday, Nov. 2 at 1 pm EST.
Dietz Offers Farewell to TSSA’s Sutton
Self Storage Association CEO Timothy Dietz spoke at the Texas Self Storage Association’s annual Big Idea Conference and honored retiring TSSA executive director Ginny Sutton. Sutton celebrated 26 years with TSSA in August. Kristy Spurr, CAE, will assume leadership of the association in January.
Noke Moves to AWS
Janus International Group completed a backend migration of its Noke smart-entry solution to Amazon Web Services. The move allows Noke to leverage AWS cloud-computing platforms and increase the global availability of the product line.
Wisconsin Portfolio Sells
An affiliate of The Kroenke Group bought three southeastern Wisconsin buildings used for self storage for $32 million.
Barone Gets Construction Loan
Talonvest Capital secured a $13.8 million construction loan for Barone Management for a ground-up development of a storage facility in Syosset, New York.
NUVO Gains New Jersey Approval
NUVO Development received approval for a storage facility in Mount Laurel, New Jersey. The facility will be managed by Extra Space Storage.
Stor It USA Bets on Texas
Stor It USA Self Storage opened a new location in Levelland, Texas.
Shurgard Buys Top Box Portfolio
Shurgard acquired the German portfolio of Top Box Self Storage for 69.2 million euros. The properties are in Essen, Duisburg, Cologne, Wiesbaden and Mannheim.
EDC Completes Maryland Project
EDC has completed an Extra Space Storage project in Hyattsville, Maryland. EDC completed the work for Johnson Development.
SmartStop Opens New California Location
SmartStop Self Storage REIT opened a new facility in San Gabriel, California. The project is a converted industrial property.
Great American Plans LA Conversion
Great American Capital will convert a former LA Fitness location in Chatsworth, California, into self storage.
Tags: Devon Self Storage
, Janus International Group
, Talonvest Capital
, NUVO Development
, Stor It USA
, Johnson Development
, Great American Capital
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