ACRES Originates $16 Million Loan for Nona Cove

ACRES Capital Corp., a leading commercial real estate middle-market lender, has originated a $16 million loan to fund the development of Nona Cove Self Storage in Orlando, FL. The property comprises 98,448 net rentable square feet to be developed into an Extra Space self-storage building containing 1,046 climate controlled self storage units and 7,593 net rentable square feet of ground floor retail space. The Extra Space self storage development will be one element of a mixed-use multifamily and retail development called FUTURA @ Nona Cove. This project is well situated close to Orlando International…

Space Shop Completes Sale of Two Portfolios for $137 Million

Altlanta, GA-based Space Shop Self Storage has sold two self storage portfolios encompassing nine locations for $137 million to REIT Extra Space Storage. “For investors, storage facilities are a historically stable investment and portfolio transactions are testament to the strength of this real estate product,” said Jason Linscott, partner, Stein Investment Group, parent company of Space Shop. “If you look back over the past 15 years, self storage assets have been the steadiest real estate asset class during recessions and have also performed exceptionally well in good times; it always…

Recent Closings: 2.15.22 – 2.21.22

Property: Kane Self Storage Closing Price: $1.57 Million Location: Marlborough, MA NRSF: 18,800 Unit Count: 136 Acreage: 1.0 Property: American Storage Location: Atlantic Beach, FL Buyer: InSite Property Group NRSF: 49,331 Unit Count: 504 Drive-Up Units and 39 Parknig Spaces Occupancy: 97% Property: CubeSmart (Managed) Closing Price: $10 Million Location: Teaneck, NJ Buyer: StorageBlue NRSF: 40,000 Property: Walter Hill Self Storage Location: Murfreesboro, TN Brokers and Brokerage: Brett Hatcher and Gabriel Coe of the Hatcher Group of Marcus & Millichap NRSF: 45,350 Unit Count: 273 Non-Climate Controlled, Four Offices, Two…

Let the Good Times Roll!

As we kick off 2022, it’s hard to imagine how the self storage market can get any better. Economists continue to prognosticate that the self storage market is sound and actually getting better; brokerage firms continue making rosy forecasts for the industry and your uncle, as predicted, has made his doomsday predictions at the holiday dinner table. The first few weeks of 2022 have confirmed that investor sentiment towards self storage is at an all-time high. Today, stabilized assets are commanding record high pricing while newly developed lease-up properties and…

Featured Broker: Evan DeCiantis

When Evan joined the company in July of 2021, he was tasked with developing the brokerage division of Pogoda Companies. Adrian College awarded him a bachelor’s degree in business in 2018 and shortly thereafter, he began his career in residential real estate with Realteam Real Estate in Metro Detroit. He sold over 100 units, totaling over $15,000,000 in sales in his first three years. Evan’s primary focus is the sale of self storage assets and the development of client relationships throughout the state of Michigan. He places high importance on…

Featured Broker: Brandi Tillman

Brandi Tillman joined the Sauls Storage Group team as an analyst following an 18-year career in banking that included specializing in deposit operations, lending and customer relationships. As a licensed insurance agent, in both Georgia and Alabama, she also served her banking customers as an annuity and insurance professional. She now holds a real estate license in Georgia and is pursuing her Alabama real estate license. She believes that integrity and building relationships are the keys to success in any business and keeps those principles at the forefront of her…

Featured Broker: Jane Sauls

Jane brings fresh energy to the self storage brokerage industry. She enjoys connecting buyers and sellers by helping them complete real estate transactions promptly to provide top-notch service to her clients. Since 2006, Jane has been engaged in site selection, rezoning and development, feasibility studies and business plans, all aspects of construction and project management, lease up and exit strategies. As co-owner of Sauls Storage Group, Jane has “real boots on the ground” operational experience, giving her a unique perspective as she helps both new investors, as well as single…

Talonvest Closes $80.5 Million of Bridge Financing for NY Portfolio

Talonvest Capital, Inc. and its longstanding clients, Clark Investment Group, Metro Storage LLC, and Goodfriend Self-Storage, have successfully closed another bridge loan together. This recent financing was a $27,387,000 bridge loan for a class A self storage facility located at 2727 Knapp Street in Brooklyn, NY. In a related assignment, Talonvest successfully negotiated $53,155,000 of bridge financing for Clark and Goodfriend secured by three additional state-of-the-art storage properties located at 1320 Zerega Avenue in the Bronx, 316 W. First Street in Mt. Vernon, and 175 Huguenot Street in New Rochelle,…

StorQuest Expands Phoenix Self Storage Footprint

The William Warren Group has completed a new 52,332 square-foot self storage facility, under its StorQuest brand, in Phoenix. Farmers and Merchants Bank of Long Beach provided $3.9 million in construction financing in 2020. Completed in January of this year, the property encompasses eight single-story buildings, spread across 3.2 acres, offering climate-controlled units, ranging from 25 to 300 square feet. Most of the units also offer drive-up access. Other facilities include 24/7 storage access and a virtual rental center. Located at 3750 S. 51st Ave., the newly-developed asset is one…

Aries Capital Closes $19.875 Million Loan for Wine Self Storage Facility in Sonoma

Aries Capital is pleased to announce that the firm’s Director of Capital Markets, Brandon Perdeck, has arranged a $19.875 million, interest-only loan for a 54,000-square-foot, climate-controlled wine and self storage facility, Vineburg Wine and Self Storage, in Sonoma, California. “The borrower was seeking to refinance an existing construction loan, as well as to finance a second phase of the project,” said Perdeck. “Given the property’s broad wine storage offerings and current waitlists for storage unit availability locally, we were able to source a qualified lender through our network and arrange…