self-storage reits »

Extra Space Storage buying 17 facilities for $200 million

Extra Space Storage buying 17 facilities for $200 million

John Egan November 5, 2013 0

Extra Space Storage Inc. remains on an acquisition streak. On Nov. 4, the self-storage REIT announced it had signed a deal to buy 17 storage facilities in Virginia for $200 million in cash. The

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CubeSmart buying 36 Private Mini Storage facilities for $326.2 million

CubeSmart buying 36 Private Mini Storage facilities for $326.2 million

John Egan November 4, 2013 2

In the biggest self-storage deal so far this year, CubeSmart LP is buying three dozen facilities for $326.2 million from Private Mini Storage Inc. The CubeSmart deal caps off a particularly active October on

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Extra Space Gets Top Grade on Analyst’s Self-Storage Portfolio Scorecard

Extra Space Gets Top Grade on Analyst’s Self-Storage Portfolio Scorecard

John Egan October 22, 2013 1

Extra Space Storage Inc. controls the highest-quality portfolio among the five publicly traded players in the self-storage industry, according to a new research report. Shahzeb Zakaria, a REIT analyst at investment bank Macquarie Capital,

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Affiliate of Strategic Storage Trust Seeks $1.1 Billion IPO

Affiliate of Strategic Storage Trust Seeks $1.1 Billion IPO

John Egan September 5, 2013 4

An affiliate of Strategic Storage Trust Inc.—which operates under the SmartStop Self Storage brand—wants to become a publicly traded REIT and raise nearly $1.1 billion in an IPO. The bulk of the IPO proceeds

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Public Storage Targets Florida for Acquisitions

Public Storage Targets Florida for Acquisitions

John Egan August 19, 2013 1

Public Storage Inc., the country’s largest self-storage REIT, is bulking up its presence in Florida. On Aug. 16, the South Florida Business Journal reported that publicly held Public Storage paid $141.7 million for nine

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Self-Storage REITs Are in Position of Strength, Moody’s Report Says

Self-Storage REITs Are in Position of Strength, Moody’s Report Says

John Egan July 16, 2013 1

Self-storage REITs are in a stronger position than small local operators, which increasingly are turning to REITs to handle customer service and other outsourced functions, according to a new report from Moody’s Investors Service.

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Extra Space’s Kenneth Woolley Gives Up Role of Chief Investment Officer

Extra Space’s Kenneth Woolley Gives Up Role of Chief Investment Officer

John Egan July 11, 2013 1

Kenneth Woolley, founder of Extra Space Storage Inc., now has one less corporate title at the self-storage REIT. On Monday (July 8), Woolley stepped down as the REIT’s chief investment officer, according to a

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3 Major Self-Storage Operators Form Private REIT

3 Major Self-Storage Operators Form Private REIT

John Egan July 1, 2013 3

A new REIT is on track to become the country’s largest privately held operator of self-storage facilities. Northwest Self Storage, Optivest Properties LLC (Store More!) and SecurCare Self Storage Inc. have pooled 64 self-storage

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Public Storage CEO: It’s a Seller’s Market in Self-Storage

Public Storage CEO: It’s a Seller’s Market in Self-Storage

John Donegan June 26, 2013 0

From his perch as head of the country’s largest self-storage REIT, Ron Havner thinks 2013 is “a great year to sell” if you own a self-storage facility. “There’s a lot of money (out there),

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CubeSmart President Chris Marr: Internet Harming Self-Storage Entrepreneurs

CubeSmart President Chris Marr: Internet Harming Self-Storage Entrepreneurs

John Donegan June 24, 2013 0

The Internet is eating into the success of self-storage entrepreneurs, according to the soon-to-be CEO of storage REIT CubeSmart. Historically, self-storage entrepreneurs have been the stimulus for supply. During the heyday of self-storage construction,

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