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11

Transactions and Deals: April 11, 2024

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Transactions and Deals: April 11, 2024

Investors Open Orlando Facility

 

Futura and Linkvest Capital have completed Nona Cove Self Storage in Orlando, Florida. Extra Space Storage will manage the property.

 

 

 

 

 

Shurgard Buying UK Rival

 

Shurgard is buying British rival Lok’nStore for £378 million cash. The firms said the merger would enable Shurgard to increase its footprint in the South East and Manchester, two of the best markets outside of London. Lok’nStore has 45 properties.

 

10 Federal Exceeds Goal

 

10 Federal exceeded its $100 million fundraising goal in its 4th self storage offering. 10 Federal is one of the largest owners and operators of fully automated facilities.

 

FreeUp Buys Georgia Project

 

Spartan Investment Group, which operates under the FreeUp Storage brand, acquired a development site in Port Wentworth, Georgia. Construction is expected to be complete by the end of 2024.

 

Earnings Calls Scheduled

 

The public self storage REITs have announced dates for first quarter earnings calls.


•    CubeSmart will release results Thursday, April 25 after the market close.
•    Extra Space Storage will release results on Tuesday, April 30.
•    Public Storage will release results Tuesday, April 30.
•    National Storage Affiliates will release results on Wednesday, May 1.

 

Devon to Manage Georgia Storage

 

Devon Self Storage will manage a property in Lawrence, Georgia, it’s third management contract in the state. The property is owned by an affiliate of Hand Properties of Atlanta. Devon is part of The Inland Real Estate Group of Companies.

 

Versal Sells Houston Boat/RV Site

 

Versal brokered the sale of A&B Boat and RV Storage in Houston, Texas. Sunbelt Storage II was the seller. RecNation was the buyer.

 

OpenTech Grows Auction Review Service

 

Extra Space Storage has expanded its agreement with OpenTech Alliance to provide auction review services. The agreement comes as Extra Space added 1,000 new sites through its acquisition of Life Storage.  

 

Stor-It Opening Florida Location

 

Stor-It Self Storage will open a sixth location in Port Orange, Florida.

 

U-Haul to Build in Kansas

 

U-Haul will open a new facility in Junction City, Kansas, after the recent purchase of almost 13 acres. Completion is scheduled for 2026.

 

Kanter Promoted at Go Store It!

 

Madison Capital Group has named Shimon Kanter as vice president of development for its subsidiary, Go Store It! Self Storage.   

 

Argus Brokers Minnesota Deal

 

Argus Self Storage Advisors brokered the sale of New Ulm Storage with two locations in New Ulm, Minnesota. The buyer was a local group.

 

 

 

 

 

| Categories: | Tags: Nona Cove Self Storage, Shurgard, 10 Federal, FreeUp Storage, earnings calls, Devon Self Storage, OpenTech Alliance, Versal, Stor-It Self Storage, U-Haul, Argus Self Storage Advisors | View Count: (206) | Return

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