TPG Real Estate and Value Store It Announce Self Storage Partnership

TPG Real Estate Partners (“TREP”), the dedicated real estate equity investment platform of global alternative asset management firm TPG and Value Store It, a best-in-class self storage owner and operator, today announced the recapitalization of a portfolio in the Value Store It platform. The new partnership will seek to acquire high-quality self storage assets in Florida. Value Store It currently owns and operates over 1.8 million square feet of net rentable storage space in South Florida, Tampa, Orlando, the Florida Space Coast, and Boston. The company prides itself on providing…

Make Space Capital Partners Completes the Acquisition of Seven New Storage Investments

Make Space Capital Partners is pleased to announce that it has completed a $51.6 million acquisition of seven storage investments from related party vendors. The storage investments are located from British Columbia to Ontario, including Vancouver Island, BC, Edmonton, AB, Calgary, AB, Kitchener, ON and Mississauga, ON. The addition of these assets validates the incredible work our team has done to create value in the fund for both present and future inventors.” The acquisition of these assets adds over 3,800 units and over 450,000 square feet of net rentable space…

Recent Transactions: 9.06.22 – 9.12.22

Properties: Two Extra Space Storage Managed Facilities Closing Price: $23.6 Million Locations: Mooresville and Salisbury, NC Brokers and Brokerage: Morgan Windbiel of CBRE Acreage: 2.06 NRSF: 136,994 Unit Count: 1,385 Property: Go Store It Self Storage Location: Coral Gables, FL Buyer: SecureSpace Self Storage NRSF: 78,094 Unit Count: 1,070 Year Completed: 2019 Property: VIP Self Storage Location: El Cajon, CA Brokers and Brokerage: Keith Phillips and Charles “Chico” LeClaire of the LeClaire Schlosser Group of Marcus & Millichap NRSF: 23,620 Unit Count: 376 Non-Climate Controlled Property: Clinton Self Storage Location:…

Tips for Boosting Self Storage Tenant Insurance Enrollment

Striving to make sure each and every one of your tenants is covered by a tenant insurance policy not only protects your customers’ best interests, but also your own. Many customers storing items outside their home may assume their goods are covered by their existing homeowners or renters policy. But that isn’t always the case and when it is, the coverage isn’t always sufficient. When tenants who have suffered a loss realize they lack coverage, they often turn to the facility operator to place blame. Although self storage operators are…

Parkview Financial Originates $18.3 Million Construction Loan for Development of a Class A 949-Unit CubeSmart Self Storage Facility in Yonkers, NY

Parkview Financial announced today it has provided an $18.3 million construction loan to KCT, Inc. for the development of a Class A, 949-unit self-storage facility located at 1060 Nepperhan Avenue in Yonkers, NY. KCT plans to demolish the existing 9,820 square-foot (sf) industrial building where it had operated its business, Health Products Corp. since 1973, and will build an eight-story building with 77,000-square feet of rentable space on the .55-acre lot. Parkview Financial saw this as a favorable opportunity to finance a high-quality self storage facility in Yonkers, a New…

Recent Transactions: 8.23.2022 – 8.29.2022

Portfolio: Two Auburn Self Storage Facilities Closing Price: $21 Million Location: Auburn, CA Broker and Brokerage: Morgan Windbiel of CBRE Buyer: Merit Hill Capital Unit Count: 938 Property: Weekender Storage Closing Price: $8.9 Million Location: Woodland, WA Broker and Brokerage: Christopher R. Secreto of Marcus & Millichap NRSF: 99,316 Unit Count: 245 Occupancy: 99% Properties: Two Self Storage Facilities Closing Price: $32.5 Million Location: Palm Beach County, FL Buyer: State Storage Group Property: Snohomish, WA Self Storage Facility Closing Price: $24.5 Million Location: Snohomish, WA Buyer: Cairn West NRSF: 104,672…

Current State of the Market

Well, most kids are back in school and summer vacations have come and gone. It is time to get back to work and down to business. First, let’s touch on the economy. Many experts believe we have hit peak inflation and certainly the trend is moderating. The long-term impact on CRE remains to be seen, but the unique attributes of self storage assets (short-term leases, non-concentrated rent roll, etc.) should continue to prove beneficial compared to other sectors. It’s one more reason institutional investors find the self storage business an…

Reeling in Recruits

Demand for workers has been a prevalent topic across the nation in recent months. We have seen more and more opportunities become available to job seekers, meaning more options for employment and a greater need to convince applicants that your company is the place to be. With that being said, how can the recruiting process be adjusted to show greater success? Try Texting Consider communicating with candidates primarily through text. Let’s face it, the spam folder located in everyone’s email inbox is filled to the brim with messages that are…

Featured Broker: Maggie Steury

With an extensive background in self storage operations and management, Maggi brings a wealth of knowledge and unique insights to every transaction. Prior to joining Storage Exchange, Maggi served as vice president of operations at Red Dot Storage, where she oversaw 170+ facilities across 16 states. Subsequent to Red Dot Storage, Maggi served as co-founder and president of StoreLine Self Storage. Maggi earned a BA from the College of Media & Communication at the University of Colorado, where she was also a co-captain of the women’s soccer team.