With changes in the general economy have come changes in the self-storage finance world. Self-storage lenders, like those for all commercial real estate, apply more stringent underwriting standards when evaluating the potential of a construction, permanent or other self-storage loans. Even the refinancing process has become more challenging for self-storage owners, who must weigh their options and exit strategies. Some negotiate with lenders in an attempt to salvage underperforming self-storage properties. Tax issues are also a significant concern for self-storage owners. Cost segregation and 1031 exchange are possibilities to be explored. Financial and operating performance is reported quarterly by the self-storage real estate investment trusts (REITs): Public Storage Inc., U-Store-It Trust, Sovran Self Storage and Extra Space Storage.
The Challenge of Financing a Boat/RV-Storage Operation: Understanding Demand Generators and Today's Lending Parameters
While similar to traditional self-storage in some respects, boat and RV storage has distinct differences that can make financing even more challenging. Understanding demand generators and today's lending parameters can help boat- and RV- storage operators find the financing ...More
Industry Investment Specialists Launch Performance Self Storage Group
Self-storage investment specialists Carl Touhey and Jason “Jay” Allen have launched a new industry consultancy firm called Performance Self Storage Group Inc., which will assist self-storage owners nationwide with facility operation, third-party management, marketing and ...More
Is 2010 a Rebound Year for the Self-Storage Market? A Look at Acquisitions and Plans for the Next 'Game'
A closer look at marketing activity that shows self-storage is rebounding from the declines of the prior two years, and what operators can expect in the coming months. ...More
Storage Choice Obtains $9.2M Refinancing for Three Texas Self-Storage Facilities
Storage Choice refinanced three of its self-storage facilities, totaling 1,670 units, for $9.2 million. The fixed-rate securitized loan is with JPMorgan Chase Bank. ...More
Top Five Mistakes Made by New Self-Storage Developers: Know What They Are So You Can Avoid Them
Before jumping into a new self-storage development project, review and understand these five potential mistakes other developers have made. ...More
Insight for the First-Time Self-Storage Developer: What You Need to Know About Feasibility, Financing, Construction and More
Self-storage can be quite rewarding for the investor who does his homework and understands the business. Here are a few items every first-time developer should consider. ...More
Longview, Texas, Walmart Gets Converted to Self-Storage
A former Walmart store that has been vacant for six years in Longview, Texas, is getting new life as a Just Store It self-storage facility, expected to open at the end of July. ...More
Trustee Sale Set for June 22 for Sonoma Storage Emporium in California
Sonoma Storage Emporium in Sonoma County, Calif., which specializes in wine storage, will be up for sale in June to satisfy an $11.1 million loan to Sonoma Valley Bank. ...More
Smaller Self-Storage Operators: 'Too Small to Fail' in a Tight Economy?
The smaller self-storage operator is under more pressure to survive than ever before. However, it’s possible the small operator is in a unique position to actually take advantage of its size and achieve success?that, in fact, smaller self-storage operators may just be “too ...More
California Self Storage Association Hosts Owners Summit on July 22
The California Self Storage Association (CSSA) and Belgravia Capital will co-host the sixth annual Self-Storage Owners Summit on July 22, 1-7 p.m., at the Balboa Bay Club & Resort in Newport Beach, Calif. ...More