Portfolio: Extra Self Storage Closing Price: $17 Million Locations: Reno and Sparks, NV Brokers and Brokerage: Tom de Jong and Dana Chobor of Colliers’ Self Storage Group Buyer: Northwest Building LLC NRSF: 98,565 Unit Count: 914 Occupancy: 93% Cap Rate: 4% Property: California Development Land Closing Price: $2.4 Million Location: East San Jose, CA Brokers and Brokerage: Tom de Jong and Dana Chobor of Colliers’ Self Storage Group Acreage: 0.76 NRSF: 70,000 Property: Cary, NC Self Storage Facility Closing Price: $15 Million Location: Cary, NC Buyer: Extra Space Storage Seller:…

StorageVault is pleased to announce that, further to its October 13, 2021 news release, it has completed the acquisition of eight stores from five vendor groups, for an aggregate purchase price of $98.6 million. Three of the Acquisitions are arm’s length and five, totaling $72 million, are related party acquisitions with Access Self Storage Inc. or its affiliates or associates as the vendor. The purchase price for the acquisitions in the amount of $98.6 million, subject to customary adjustments, was paid by the issuance of an aggregate of 3,327,246 common…

CBL Properties (NYSE: CBL) today announced the sale of its self storage portfolio for a gross sales price of $42.0 million ($22.0 million at CBL’s share). After repayment of approximately $25.7 million ($16.4 million at CBL’s share) in recourse loans secured by the properties, the sale generated cash to CBL of approximately $8.5 million. We developed these assets with less than $300,000 of cash invested, utilizing existing land as our equity. Within three years of starting this program, we are able to take advantage of terrific pricing and monetize the…

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…