Author: Alison DeJaeger

Spartan Investment Group LLC, a self storage development, property-management and real estate firm that operates the FreeUp Storage brand, recently acquired its 38th facility this year, bringing its 2021 investment total to more than $200 million. The company intends to invest another $500 million in self storage assets next year as part of its goal to amass a $1 billion portfolio, according to a press release. Fourth-quarter acquisitions also included 18 Texas facilities comprising 742,285 square feet. Spartan’s footprint in the state is now more than 1.5 million square feet…

Hearthfire Holdings, a rapidly growing US-based real estate investment and property management firm, announced it has completed the acquisition of five self-storage properties as part of Hearthfire Growth Fund II. “With this acquisition, Hearthfire Capital’s self storage assets under management now include 11 facilities, 2,534 units and 374,507 net rentable square feet,” said co-founder and CEO of Hearthfire Holdings Sergio Altomare. “The combined value of the portfolio is over $40 million.” The assets are now wholly-owned properties of Hearthfire Holdings under the terms of the acquisition agreement unanimously signed by…

Harrison Street, an investment-management firm focused on alternative real estate assets, acquired 26 Midgard Self Storage facilities in six states from Reliant Real Estate Management LLC. Together, the properties comprise nearly 2.7 million rentable square feet in 18,765 units, according to a press release. The fragmented self storage industry provides tremendous consolidation opportunities, particularly in secondary markets experiencing strong demographic growth.” The purchase includes nine facilities in Florida, eight in South Carolina, five in Tennessee, two in Georgia, and one each in Arkansas and North Carolina. They’ll continue to operate…

Property: Fargo Space Center Closing Price: $725,000 Location: Mapleton, ND Brokers and Brokerage: Matt Hugen, Alex Ihrke and Tom Flannigan of KW Commercial Minneapolis, Broker Affiliates of Argus Self Storage Advisors NRSF: 10,500 Unit Count: 56 and 14 Outdoor Parking Spaces Source Portfolio: Three Self Storage Facilities Location: Hot Springs, AR Brokers and Brokerage: Larry Goldman, CCIM, of Goldman Investment Advisors, Broker Affiliate of Argus Self Storage Advisors NRSF: 181,952 Unit Count: 1,013 Acreage: 16 Buyer: NSA Property Holdings Highlights: One Property Expected to Be Completed One Month After Closing…

Simply Self Storage, a premier provider of storage solutions for a wide range of customer needs, today announced the acquisition of a 14-property self storage portfolio in the Dallas and Houston metropolitan areas. This strategic acquisition expands Simply Self Storage’s presence in Texas’ most attractive submarkets, where the company now owns 29 institutional quality self storage properties. Financial terms of this transaction were not disclosed. Houston and Dallas continue to experience tremendous growth and these properties are experiencing strong consumer demand levels that have shown strength year-over-year.” The portfolio of 14 Storage Choice properties comprises 9,878…

CubeSmart (NYSE: CUBE) (the “Company”), today announced that it has entered into an agreement to acquire 100% of the outstanding partnership units of LAACO, Ltd. (“LAACO”), the owner of the Storage West platform for approximately $1.69 billion, which includes approximately $40.9 million of LAACO debt that will be repaid at, or shortly after, the closing. Storage West is the owner and operator of 59 self storage assets in the highly desired western markets of Southern California (22), Phoenix (17), Las Vegas (13), and Houston (7). Two of these properties are…