Day: November 15, 2022

Brett Hatcher

Brett Hatcher has been with Marcus & Millichap since 2006 and is currently a senior managing director investments. In his time with Marcus & Millichap, Brett has successfully brokered over 648 transactions, totaling over $4.4 billion in real estate. An expert from the ground up to lease up, Brett is up to date in all aspects of self storage investments, including management, operations, market conditions, capital market and economic trends impacting the self storage industry. Brett’s knowledge of the self storage market is unparalleled in the industry and has consistently…

Recent Transactions: 11.09.2022 to 11.15.2022

Portfolio: Two self storage facilities Location: Kensington, MD and Alexandria, VA Buyer: Arcland Property Co NRSF: 281,000 Units: 3,100 units combined Closing Price: $112.8 million   Property: AAA Self Storage Location: South Elgin, IL Buyer: Trojan Storage Seller: Shanahan Enterprises LLC Broker and Brokerage: Sean Delaney of Marcus & Millichap NRSF: 72,850 Units: 388 storage units inside eight drive-up storage buildings Occupancy: 96% Room for Expansion: 2.4 acre extra land Closing Price: $11.65 million   Property: Cold storage facility Location: Houston, TX Buyer: Harbor Capital LLC Seller: Mendware LLC Brokers…

Cyber Security Measures You Need to Implement Now

By Shane Carlson, Technology Manager When was the last time you evaluated your cyber security measures?  Cyber security entails so much more than just having anti-virus software on your computer – it requires knowledge and attentiveness. The tools are important and you need reputable and reliable cybersecurity programs and software, but it is just as important to educate yourself and your team on what you should and should not do.  Cyber Security Practices To Implement Encrypt your emails. Are we sending sensitive information such as bank information through emails?  If…

Newmark Arranges $360M Financing For Self Storage Portfolio

Newmark Group Inc has arranged $360 million in financing for a 50-asset, 3.9 million-square-foot national self storage portfolio on behalf of Angelo Gordon and Andover Properties. Critical to the success of this transaction was the strength of sponsorship between Andover, with its Storage King USA operating platform and Angelo Gordon, with its deep sector experience and large equity commitment to the portfolio.” It added that the portfolio is well-leased and located in strong primary markets and submarkets across the country. The team that closed the debt was led by Vice-Chairmen and Co-Heads of…

Mini Mall Storage Properties Secures $72 Million Acquisition Loan from HIG

HIG Capital’s real estate debt arm has provided a $72m (€70.7m) loan to assist North American self-storage firm Mini Mall Storage Properties to buy a 5,000-unit portfolio. HIG Realty Credit Partners has originated the loan to assist in the acquisition of the self-storage portfolio located in three states across the Southeast US. Michael Mestel, managing director at HIG Realty Credit Partners, said: “We are excited about this unique opportunity to finance an asset class with such strong fundamentals.” Adam Villard, CEO at Mini Mall Storage Properties, said: “We are pleased to partner…