REBusinessOnline

SkyView Arranges Sale of 613-Unit Self-Storage Facility in Edmond, Oklahoma

EDMOND, OKLA. — SkyView Advisors, a Florida-based self-storage brokerage firm, has arranged the sale of MidAmerica Self Storage, a 613-unit facility in Edmond, a northern suburb of Oklahoma City. The facility is situated on 4.5 acres and totals 68,427 net rentable square feet. Ryan Clark of SkyView represented the undisclosed seller in the transaction. New York-based investment firm Merit Hill Capital acquired the asset for an undisclosed

HFF Arranges $10.2M Construction Loan for Self-Storage Facility in Northern New Jersey

NUTLEY, N.J. —HFF has arranged $10.2 million in financing for the development of a 925-unit, CubeSmart-branded self-storage facility at 10 Kingsland St. in Nutley. The three-story, 125,000-square-foot facility will contain 765 climate-controlled and 160 non-climate-controlled units in a variety of sizes. HFF represented the developer, Tulfra Real Estate, in securing the construction loan with Bank of New Jersey. Loan proceeds will be used for acquisition costs, site improvements, …

HPI Horne Developing 979-Unit Self-Storage Facility in San Antonio

SAN ANTONIO — HPI Horne Storage, a joint venture between Austin-based HPI Real Estate Services & Investments and self-storage industry veteran Hugh Horne, is developing a 979-unit facility located at 10126 Potranco Road in San Antonio. The property will total 134,000 square feet of net rentable space and all its units are climate-controlled. The joint venture will own and operate the facility and a publicly traded self-storage REIT will manage it. Completion is slated for April 2019. SBS …

Karr Self-Storage Arranges Sale of 297-Unit Facility in South Dallas

DALLAS — Karr Self-Storage, a division of Marcus & Millichap, has arranged the sale of Oak Cliff Bargain Storage, a 297-unit facility in South Dallas. The property was built in 1973 and underwent renovations in 2015. Features include an on-site manager’s residence, modern office and showroom, perimeter fencing, gated entry and 16 surveillance cameras. Brandon Karr and Danny Cunningham of Karr Self-Storage represented the seller, a national operator headquartered in the Pacific …

KeyBank Provides $18.8M CMBS Loan for Refinancing of Self-Storage Portfolio in Michigan

MICHIGAN — KeyBank Real Estate Capital has provided an $18.8 million CMBS loan for the refinancing of an eight-property self-storage portfolio in Michigan. Known as Berger U-Store Portfolio, the assets total 3,176 units and 431,755 square feet. Dennis Bernard and Kevin Kovachevich of Bernard Financial arranged the 10-year loan, which will be used to refinance existing debt on seven of the properties and acquire the remaining

Colliers to Acquire 75 Percent Stake in Harrison Street for $450M

TORONTO AND CHICAGO — In an effort to expand its global investment management platform, Colliers International Group Inc. (NASDAQ: CIGI) has agreed to acquire 75 percent of Harrison Street Real Estate Capital LLC for $450 million. Under the terms of the transaction, which is expected to close during the third quarter, the senior management team of Harrison Street will hold the remaining 25 percent of equity. An additional $100 million will be payable to Harrison Street in 2022 based on the …

NAI Horizon Negotiates $10.8M Sale of Self-Storage Facility in Metro Phoenix

BUCKEYE, ARIZ. — NAI Horizon has arranged the sale of a self-storage facility, located at 24901 W. Yuma Road in Buckeye, a western suburb of Phoenix. A California-based buyer acquired the property from Storage American DBA Store-All America RV and Self-Storage for $10.8 million, or $100.39 per square foot. Situated on 9.1 acres, the 107,130-square-foot facility features 638 drive-up self-storage units and 240 outdoor RV parking spaces. Additionally, the sale included a U-Haul moving truck …

LeClaire Group Brokers Sale of 2,627-Unit Self-Storage Portfolio in Southeast Texas

BEAUMONT, TEXAS — The LeClaire Group, a division of Marcus & Millichap, has brokered the sale of a portfolio of Lisotta’s Self Storage properties in southeast Texas. The seven facilities were constructed in the 1970s and 1980s and total 389,386 net rentable square feet across 2,627 units. Two of the properties are located in Beaumont and two are located in Nederland, with the other facilities located in Groves, Bridge City and Orange. Dave Knobler and Charles LeClaire of Marcus & …

Strategic Storage Growth Trust Acquires 730-Unit Facility in Metro Dallas

MCKINNEY, TEXAS — Strategic Growth Storage Trust Inc., a REIT sponsored by California-based SmartStop Asset Management LLC, has acquired Custer Storage & Business Center, a 730-unit self-storage facility in the northern Dallas metro of McKinney. Built in 2015, the 95,000-square-foot property includes 10 single-story buildings with approximately 230 drive-up units and 500 first-floor units that are climate-controlled. The seller and sales price were not disclosed. With this acquisition, …

Marcus & Millichap Arranges $19.4M Sale of Self-Storage Property in Metro Atlanta

ROSWELL, GA. — Marcus & Millichap has arranged the $19.4 million sale of Space Shop Self Storage, a 1,174-unit self-storage property in Roswell, located roughly 23 miles north of Atlanta. Stacey Gorman of Marcus & Millichap arranged the transaction on behalf of the seller, Stein Investment Group, and procured the buyer, a regional self-storage operator. Space Shop Self Storage was constructed in 1995 and was recently renovated and expanded. The property is situated on six acres along …

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