CBRE IM Lands $114M Loan for Self Storage Portfolio

CBRE Investment Management, in a joint venture with The William Warren Group, has acquired a 14-property self storage portfolio in Southern California and Utah. The 8,697-unit portfolio was purchased from KOAR Institutional Advisors, with Prudential Financial providing a $114 million loan, according to county records.” With this acquisition, the fund sponsored by CBRE Investment Management owns 100 self storage properties across the U.S., bringing the number of units in its portfolio to 55,477. The company previously acquired another self storage portfolio in 2021, located in Colorado, California and Washington. The…

SAFStor, Inc Opens Newest Philadelphia, PA Self Storage Facility as Life Storage

  We have partnered with Life Storage to operate the facility. They are a best-in-class operator with customer-focused team that I’m confident will deliver a top-notch self-storage experience to the neighborhood”   SAFStor, Inc, a leading developer of self-storage properties, opened its newest facility in Philadelphia, PA on January 31, 2023. With the grand opening of the Philadelphia property, SAFStor has expanded its portfolio to 50 facilities in 14 states, with several more currently under construction. The Daytona, FL-based developer has selected Life Storage (NYSE: LSI), a leading owner and…

Recent Transactions: 03.14.2023 – 03.20.2023

Property: Storage Of Englewood Location: Englewood, FL Closing Price: $6.43 Million Brokers and Brokerage: Chris Travis and Hunter Robey of the Travis Group of Marcus & Millichap Acreage: 11.84 acres Unit Count: 750 units Highlights: Located in the Bradenton-Sarasota-Venice MSA Fully gated Ample LED lighting On-site manager  Portfolio: Greenleaf Self Storage Four Property Portfolio Location: Seneca, SC Broker and Brokerage: Michael Morrison of Midcoast Properties, Inc. Acreage: 7.86 acres NRSF: +/- 110,821 Unit Count: 908 climate-controlled and standard drive-up units as well as parking Highlights: Close proximity to Clemson University…

Featured Broker: Gabriel Coe

Gabriel Coe is a senior managing director of investments with the Hatcher Coe Group of Marcus & Millichap. In his first eight years with Marcus & Millichap, Gabriel has sold over $4 billion in self storage transactions, representing properties in 33 states. Gabriel and his team closed 294 properties in 2022 totaling over $2.1 billion in sales. Gabriel is currently ranked first (tied with his partner Brett Hatcher) within the National Self Storage Group at Marcus & Millichap and ranked ninth (tied with his partner Brett Hatcher) of all Marcus…