Inside Self-Storage

Real Estate

The process of buying or selling a self-storage facility has become more rigorous as markets have become more competitive and changes in the economy impact property value. To know the accuracy of a self-storage appraisal, a self-storage owner should have a clear understanding of facility value and the effect of capitalization (cap) rates. A buyer should complete a comprehensive due-diligence process to know if an investment is financially sound.

Readen Holding Acquires Dutch Self-Storage Company

Venture capital firm Readen Holding Corp. has purchased Dutch self-storage company Beemster Vastgoed B.V. through its subsidiary Readen Industries Limited. Financial terms were not disclosed. ...More
June 6, 2012
Posted in News, Real Estate
Strategic Storage Trust Acquires Fifth Virginia Facility

Strategic Storage Trust Inc., a publicly registered, non-traded real estate investment trust (REIT) investing in self-storage properties, acquired an 870-unit, 3.3-acre self-storage property in Chantilly, Va., this week for approximately $7.3 million. The company's Virginia ...More
June 1, 2012
Posted in News, Real Estate
Canadian Self-Storage Operator StorageVault Announces 1Q 2012 Financial Results, Acquisition Closings

Canadian self-storage operator StorageVault Canada Inc. recently shared financial results for the first quarter of 2012, which ended March 31. Company revenue increased 19.5 percent from the first quarter last year to $787,263. Net operating income from properties increased ...More
May 30, 2012
Posted in News, Finance, Real Estate
U-Haul Acquires Self-Storage Facility in Orange County, Calif.

Amerco Real Estate, the developent and acquisitions entity for The U-Haul Co., just acquired Newport Mesa Self Storage in Costa Mesa, Calif., for $4.5 million. The all-cash transaction has a 30-day escrow period. The facility, which has 37,780 square feet of rentable space ...More
May 25, 2012
Posted in News, Real Estate
Self-Storage Facility in Gulfport, Fla., Sold for $1.1M

The Storage House, a 23,400-square-foot self-storage facility in Gulfport, Fla., recently sold for $1.1 million. The facility was part of an operation that included facilities in Gulfport and Orlando, both of which are displayed together on StoreSafeSelfStorage.net. ...More
May 22, 2012
Posted in News, Real Estate
Self-Storage REITs to Participate in REITWeek 2012

Executives from self-storage real estate investment trusts (REITs) CubeSmart, Extra Space Storage Inc., Public Storage Inc. and Sovran Self Storage Inc., will be presenting at REITWeek 2012, the investor forum for the National Association of Real Estate Investment Trusts ...More
May 14, 2012
Posted in News, Real Estate
North Carolina Self-Storage Facility Sells for $3.1M

Ironclad Self Storage in Chapel Hill, N.C., recently sold for just more than $3.1 million to Amerco Real Estate. The transaction for the 42,370-square-foot facility closed May 1. The buyers also purchased an adjacent five acres, which were not included in the sale, with the ...More
May 9, 2012
Posted in News, Real Estate
Self-Storage REITs Release Q1 2012 Financial Results

The four U.S.-based self-storage real estate investment trusts (REIT)—CubeSmart, Extra Space Storage Inc., Public Storage Inc. and Sovran Self Storage Inc.—have released financial statements for the quarter that ended March 31. In general, all of the REITs are experiencing ...More
May 7, 2012
Posted in News, Finance, Real Estate
North Texas Self-Storage Facility Sells in Private, All-Cash Transaction

Bankhead Self Storage in Weatherford, Texas, recently sold in an all-cash transaction between two private investors. Sellers Jim and Barbara Owens developed the 38,115-square-foot facility, which is currently 91 percent occupied, in 2004. Financial terms were not disclosed. ...More
May 2, 2012
Posted in News, Real Estate
U.K. Self-Storage Operator Big Yellow Secures $162 Million Loan, Makes Other Financial Changes and Real Estate Sales

U.K. self-storage operator Big Yellow Group PLC has entered into a new £100 million (about $162 million) 15-year loan with Aviva Commercial Finance Limited, secured over a portfolio of 15 wholly owned self-storage facilities valued in February, at £242.1 million (about ...More
May 2, 2012
Posted in News, Finance, Real Estate

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