This site is part of the Global Exhibitions Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


SoCal Sees First Lender-Foreclosed Self-Storage of 2009


All-Storage in Lancaster, Calif., is the first lender-foreclosed self-storage facility to be available in Southern California in 2009. Bancap Self Storage Group Inc., based in Rancho Santa Margarita, Calif., will list the property. Company president Dean Keller will represent the seller, a private investment firm that made the original construction loan for the facility and later took ownership through foreclosure.
This property is believed to be the first of several lender-foreclosed facilities that will be available this year. "Although there are fewer foreclosures of self-storage properties than virtually all other types of real estate, I am still expecting more to hit the market during this economic down cycle," Keller said.
All-Storage has approximately 31,000 rentable square feet in 330 units. The property is offered for sale at $1.8 million
Bancap Self Storage Group has completed more than $850 million in self-storage sales, including lender-owned properties, portfolio sales and a record-setting single-property sale of more than $31 million.

Related Articles:

Bancap Sells Hyer Quality Storage for $2.2 Million

Bancap Self Storage Sells American National Mini Storage

comments powered by Disqus