Talonvest Closes Loans for SmartStop

 

Talonvest Capital closed two loans for SmartStop Self Storage REIT totaling $22.1 million. The loans are for properties in Vancouver, Washington, and Bradenton, Florida.

 

Lock America’s Minnella Passes Away

 

Frank Minnella, co-founder and CEO of Lock America, passed away March 26. Minnella founded the security lock company with Steve Shiao in 1981 and they pioneered and patented many products for self storage, including the Enforcer cylinder lock system.

 

Stor-It Opens New Store in Boise

 

Stor-It Self Storage opened a new facility in Boise, Idaho, built by Forge Building Company. Stor-It is the largest storage provider in Idaho.

 

SmartStop to Release Results

 

New publicly traded REIT, SmartStop Self Storage REIT will release financial results for the first quarter after the market close on May 7. SmartStop began trading on the NYSE under the ticker symbol SMA on April 2.

 

Lindsey Brokers Arkansas Deal

 

Lindsey Self Storage Group brokered the sale of Treasure Chest Storage in Brookland, Arkansas, to a private buyer.

 

Arcland Opens Three New Properties

 

Arcland Property Co. opened three new storage facilities in Winchester, Virginia, Clinton, Maryland, and its first property in Alabama, in Huntsville. Self Storage Plus will manage the sites.

 

Storage Solutions Opening In Washington

 

Storage Solutions will open a new facility in Spokane Valley, Washington. The facility is managed by West Coast Self-Storage.

 

Marcus & Millichap Handles New Mexico Sale

 

Marcus & Millichap brokered the sale of a two-property portfolio in Clovis, New Mexico.

 

OpenTech, SteelBlue Join on Doors

 

OpenTech Alliance and SteelBlue are collaborating to provide pre-punched doors for INSOMNIAC Smartlocks.

 

CalSTRS Invests in Storage

 

Nuveen, the investment manager of TIAA, closed a separately managed account for the California State Teachers’ Retirement System to invest in self storage across the U.S. The initial equity commitment is $150 million. MyPlace Self-Storage will serve as the property manager for the account.

 

Developers Plan New Jersey Asset

 

A joint venture between Claremont Development, March Development and Battery Global Advisors closed a nearly $15 million construction loan to develop a storage facility in Montvale, New Jersey.  

 

SBOA Insurance Compatible with Cubby

 

Storage Business Owners Alliance Tenant Insurance has integrated with Cubby management software. SBOA’s insurance is powered by Alchemy Insurance.

 

IREGC Hires Helms

 

Investment Real Estate Group of Companies named Cynthia Helms controller. IREGC operates Moove In Self Storage.

 

Canada’s Apple Opens in Ontario

 

Apple Self Storage opened a facility in Scarborough, Ontario.