Category: Recent Transactions

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…

Three months after exploring a multi-billion-dollar sale of Manhattan Mini Storage, Edison Properties has found a buyer. StorageMart has reached an agreement to acquire Manhattan Mini Storage and its 18 self storage facilities in the borough, the Missouri-based firm announced Friday. Neither side disclosed the financial terms, but Crain’s reported that StorageMart paid just over $3 billion, citing people familiar with the matter. The acquisition brings StorageMart’s portfolio to 20 million net rentable square feet and more than 200,000 storage units worldwide, including in Brooklyn, where it has two locations, as…

Property: Mokena Self Storage Sale Price: $18 Million Location: Mokena, IL Broker and Brokerage: James “Ashley” Compton of the Self Storage Group of Colliers International NRSF: 108,724 Buyer: Trojan Storage Unit Count: 938 Climate Controlled Acreage: 4.086 Highlights: Certificate of Occupancy Sale In Will County, One of the Fastest-Growing Counties in the United States Situated Off 191st Street, a Major Five-Lane East/West Thoroughfare with Prominent Visibility and Ease of Access Along the Primary Artery Property: Central Self-Storage Sale Price: $12.3 Million Location: Chandler, AZ Broker and Brokerage: Steve Mellon, Brian…

Property: Alta Vista Storage Location: League City, TX Broker and Brokerage: Dave Knobler of  The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 34,100 Unit Count: 358 Climate Controlled Acreage: 8.4 Room for Expansion: 3.7 Acres Highlights: Attractive Facade Vertical Pivot Gated Entry with Digital Keypad Full-Service On-Site Management Office 24/7 Video Surveillance Concrete Driveways Roll-Up Doors Property: Cumberland Storage Location: Tyler, TX Broker and Brokerage: Dave Knobler and Charles “Chico” LeClaire of  The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 61,713 Unit Count: 539 Climate Controlled Occupancy: 100% Year Built:…

An affiliate of self storage real estate investment trust and management company National Storage Affiliates Trust (NSAT) has acquired 34 properties from investment-management firm Inland Private Capital Corp. (IPCC) for $265 million. The facilities comprise a total of 2.1 million square feet across four states. They were packaged in three IPCC-sponsored Delaware statutory trust (DST) programs, according to a press release. The storage sector has seen a dramatic increase in institutional demand for large scale, self storage transactions over the past 12 months and, as a result, we believed a…