Sold! Weekly Self-Storage News Round Up 5.18.22
Rosewood Property Co. bought its 75th self-storage facility, an 802-unit property at 5600 Oporto Madrid Blvd. in Birmingham, AL (below). It has 82,914 rentable square feet and 32 RV parking spaces. The facility is branded as Public Storage, formerly served as the Anaheim Auto Auction and is near the Birmingham Shuttlesworth International Airport. Rosewood now has facilities in 21 states, with a larger presence in Texas, Pennsylvania, Colorado, Oklahoma and Indiana. Rosewood bought the property from Warden Capital. Ashley Compton of Colliers arranged the buy. Source: Rosewood Property Co.
Global investment firm KKR bought five new self-storage properties with a total of about 4,100 units for a combined price of $98 million in Phoenix, AZ; Dallas, TX; San Antonio, TX and Palm City, FL. Source: Businesswire
ACRES Capital Corp. and its ACRES subsidiaries, a nationwide commercial real estate middle-market lender, originated a $24.9 million loan for building Annapolis Self Storage in Maryland. It will have 71,360 NRSF and 751 climate-controlled units. The loan went to 1784 Capital Holdings LLC in Scottsdale, AZ, and Talonvest Capital arranged it. James Bracco of ACRES’ Miami, Fl office originated the loan. Source: Yahoo! Finance
Midcoast Properties Inc. announced the sale of American Self Storage, with two locations in Havelock, NC. Midcoast Properties represented the sellers, with Hall H. Tanner III and Dale Eisenman as lead brokers. The buyer was from out of state. American Self Storage at 603 Webb Blvd. sits on almost 2 acres, has 25,050 rentable square feet and four self-storage buildings, with 230 non-climate-controlled drive-up units. American Self Storage at 280 Shipman Road is on 1.84 acres and has 29,666 rentable square feet. It has three self-storage buildings, with 227 non-climate-controlled drive-up units. Source: Midcoast Properties Inc.
Marcus & Millichap arranged the sale of a 78,814-square-foot 80 W. Self Storage facility at 5615 W. Marshall Ave. in Longview, TX. Investment specialists Danny Cunningham and Brandon Karr in Marcus & Millichap’s Fort Worth, TX office represented the seller, a private investor. Cunningham and Karr found the buyer, a private-capital group. Source: REJournals
Ladera Ranch, CA-based SmartStop Self Storage REIT Inc. purchased an 860-unit, climate-controlled self-storage facility at 3970 Pell Circle in Sacramento, CA. It is the company’s 30th owned or managed location in California, and 168th in North America. The facility has 79,000 square feet. It also has more than 70 spaces for boat and RV storage. In addition, SmartStop bought a self-storage facility at 124 St. Johns Commons Road in St. Johns, FL, south of downtown Jacksonville. It has a three-story building and 480 climate-controlled units, spanning 55,400 square feet. Source: Yahoo!
Trojan Storage garnered $130 million in permanent financing for six self-storage properties that total about 600,000 rentable square feet in California, Oregon and Washington. The portfolio includes three recently finished properties in Commerce, Glendale and San Jose, CA, plus three properties purchased in 2021 in Salinas, CA; Portland, OR and Vancouver, WA. Source: Multihousing News
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