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In this video chat, we’re joined by Mark Degner of Safeguard Self Storage and Seth Bent of Storage Exchange. This discussion focuses on the future of the storage industry in the increasingly competitive investor environment. Tune in to learn how these industry veterans have adapted and hear their predictions for what’s ahead.
Talonvest Capital, Inc. and its client SpareSpace Storage have successfully closed a $21,400,000 bridge loan for the financing of a 106,940 net rentable square foot, Class A, state-of-the-art self storage facility in Miami, FL. The non-recourse loan was funded by a New York-based private investment firm and featured a three-year loan term, full term interest-only payments, and two 12-month extension options. The loan facilitated a construction loan refinance while providing the capital for SpareSpace to complete the phased build out of the seven-story facility in order to capture cash flow…
SmartStop Self Storage REIT, Inc., a self-managed and fully-integrated self storage company, and Strategic Storage Growth Trust II, Inc., a private REIT sponsored by an indirect subsidiary of SmartStop, announced today that the companies have entered into a definitive agreement to merge in an all-stock transaction, in which SSGT II will merge into a newly-formed subsidiary of SmartStop. The combined company will have a combined portfolio of 150 wholly-owned operating properties, representing approximately 11.5 million net rentable square feet and 100,500 units. This transaction will allow the combined company to,…
