Day: February 21, 2023

  A massive arm’s length real estate deal that was completed on Monday has netted the Nantucket Land Bank $840,000, the second largest transfer fee received in its four-decade history.”   The Go Store It self storage facility on Tomahawk Road has been “sold” for a whopping $42 million. It’s unclear if the deed transfer represents a buyout within the company, a shuffling of limited liability company ownership for tax purposes, or some other corporate strategy. But one thing is clear: it means a huge one-day haul for the Land…

Prime Group Holdings’ latest self storage fund reached its hard cap of $2.5 billion. Single-sector private equity real estate funds are not unusual, but the majority tend to target core real estate assets. But Prime Group Holdings LLC has found success off the beaten path, focusing its funds on niche property types. Investors have poured $2.5 billion into its latest initiative, Prime Storage Fund III, focused on the self storage space, blowing past the fund’s $1.5 billion target to reach its hard cap of $2.5 billion. The offering is the…

Every year Bank Five Nine funds numerous transactions based on complex change-of-ownership transactions that include the purchase of real estate. In many cases, financing is provided in combination with the both the SBA 7(a) Program (intangible assets) and the SBA 504 Program (fixed assets). Seller financing is also common in these types of projects, but it is important to structure the deal right on the front end in order to allow for seller financing to count toward the required down payment and also ensure the payback terms are acceptable to…