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Montfort Capital Buys 494-Unit Self-Storage Property in Cedar Park, Texas

Dallas-based self storage investment firm Montfort Capital Partners has purchased A3 Storage Centers, a 494-unit facility in Cedar Park, a northern suburb of Austin. The property was built on 5.6 acres in 1994 and spans 48,235 net rentable square feet. Jon Danklefs of Marcus & Millichap represented Montfort Capital, which plans to rebuild the leasing office and add a new climate-controlled building later this year, in the transaction. The seller was not disclosed. Source

JPMorgan Chase Originates $489M Loan for MHC Portfolio Deal

Horizon Land Co. has spent $743.3 million to buy a portfolio of manufactured housing communities, a self storage property and RV pads across the country. The company financed the acquisition through a JPMorgan Chase-originated $488.6 million first lien acquisition loan, an additional $40 million mezzanine financing and $258.8 million of sponsor equity. The portfolio comprises 93 manufactured housing communities totaling 11,129 pads that include: – 10,897 manufactured housing pads – 194 RV pads – 38 site-built homes – a self storage facility with 136 units. The collection spans 13 states…

VanWest Partners acquires five property portfolio in Michigan

VanWest Partners, an opportunistic investment firm specialising in commercial real estate acquisition, management, and sales, has acquired five self storage facilities via its newest fund, VanWest Self Storage Fund II, LLC. Year to date, the firm has closed on a total of seven self storage facilities representing just under USD30 million in total capitalisation. The five-property Michigan portfolio was closed in mid-March and includes two self storage facilities in the greater Detroit market and three self storage facilities in the Grand Rapids market. The portfolio totals just over 265,000 net…

Two-Property Portfolio, Elgin and Blythewood (Columbia), South Carolina Sold by Midcoast Properties, Inc.

Midcoast Properties, Inc. announces the recent sale of two self storage facilities located in Elgin and Blythewood (Columbia), South Carolina.  Midcoast Properties represented the Seller, with Michael Morrison as lead broker.  The facilities, formerly operating as StorNGo, were sold to a national buyer. The Elgin facility is a new facility that opened in March 2020.  The Blythewood facility added four new buildings in 2019.  Together, these two facilities are situated on over 11 acres and feature both climate-controlled interior and climate-controlled drive-up units, and non-climate interior and drive-up units, as…

The Impact of Inflation on Self Storage Investing

Ben VestalArgus Self Storage Advisors As the U.S. economy continues to recover, many investors are turning their attention to the potential risk of inflation and how it will impact commercial real estate investments. The self storage business model of short term, month-to-month leases and a fixed base expense model is setting self storage owners up to outperform other commercial real estate sectors.  We have learned that the ability to raise or reduce rents quickly allows self storage owners to outperform the market. Regular rent increases on the existing tenant base…

William Bohn, NSA’s Newly Appointed Vice President of Acquisitions, Plans To Leverage Data to Build a Stronger Acquisitions Model

Tamara Fischer, President and Chief Executive Officer of the Company, commented, “We’re excited to announce Will’s appointment to Vice President of Acquisitions. Will has been a key contributor to NSA since joining the firm in 2015, serving most recently as the leader of our Data Science team. His in-depth knowledge of NSA combined with his prior experience in acquisitions will enhance the execution of the robust deal flow that we are seeing in the market.” NSA prides itself on being different from the traditional REIT. Storage industry Acquisitions Teams don’t…

Featured Broker: Brett Hatcher

Brett Hatcher has been with Marcus & Millichap since 2006 and is currently a senior managing director investments. In his time with Marcus & Millichap, Brett has successfully brokered over 627 transactions, totaling over $3.9 billion in real estate. An expert from the ground up to lease up, Brett is up to date in all aspects of self storage investments, including management, operations, market conditions, capital market and economic trends impacting the self storage industry. Brett’s knowledge of the self storage market is unparalleled in the industry and has consistently…

The Perfect Storm for Self Storage: Current Trends Create an Ideal Scenario for Self Storage Sellers

Mike MeleVice ChairmanCushman & Wakefield Last October, Blackstone Group Inc put a $1.2 billion price tag on their self storage market confidence. Their purchase of Simply Self Storage set off the alarms of investors worldwide and threw significant weight behind what insiders already knew: self storage has legs. Together, with Elliott Management and numerous other industry players, investor interest is at an all-time high. In addition to engagement from powerhouse investors, self storage properties are seeing a boost in valuations thanks to increased rates and occupancies. According to data from…

Featured Broker: Mike Mele

Mike Mele, Vice Chairman, leads Cushman & Wakefield’s national Self-Storage Advisory Group, which represents clients ranging from private investors to large-scale REITs in the development, expansion, consolidation, acquisition and disposition of self storage assets. Mr. Mele began his career in self storage investment sales in 1999. He went on to build an industry-leading team, which he brought to Cushman & Wakefield in 2019. Based in Tampa, the 18-member, multi-market team has closed more than 600 self storage transactions totaling more than $6 billion. In 2020 alone, the team closed 41…

Case Study: A Modern Storage Operation

When EXP Realty took over a pen and paper storage operation, they knew there was a better, more modern approach to running a storage facility. They turned to Storable’s platform of powerful technology and found success. The Challenge: Eliminating Busywork and Missed Opportunities After purchasing a couple of storage facilities that were managed using pen and paper, Frazier Robison of EXP Realty became quickly overwhelmed by the volume of tedious tasks necessary to manage day-to-day operations. He and his business partner knew there had to be a better way to…