the Editors of CPE & MHN
More Storage Space for Denverites
Public Storage has recently hit a new milestone in the Centennial State.
Metro Storage Riding the Chicago Industrial Wave
Rising to meet the high demand for storage space in Chicago, Metro Storage is developing an 884-unit, state-of-the-art facility in Skokie, Ill.
Boston-Based Investor Buys 50-Unit Apartment Complex in Cleveland Heights
Noble Summit Apartment Properties LLC is the new owner of the apartment complex at 2734 Noble Road in Cleveland Heights. The Boston-based company paid $1,330,000 or $26,600 per unit, to purchase the multi-family property in a transaction which closed earlier this year.
Berkadia Finances Three Seattle-Area Self-Storage Facilities
Berkadia recently announced that the company’s Seattle office has completed $21 million in combined loan proceeds for three different self-storage facilities. The commercial real estate company arranged the financing for the properties located throughout the Puget Sound area. The borrower is Ray Moore Construction, with the company working with a Berkadia team led by Senior Vice President Louis Weisman. The loans were a 10-year, interest-only, fixed-rate loans secured through a major Wall Street lender.
Bankruptcy Auction Set for 59-Unit Self-Storage Facility Stormax USA in Albuquerque
Albuquerque-based self-storage facility, Stormax USA, has filed for bankruptcy. As a result, the property will be sold through a live auction on November 24. SVN Auction Services’ Louis B. Fisher III, CAI, is leading the auction efforts. Written bids are due November 21 and will sell to the highest bidder per the court order.
Business Property Trust Picks Up Broadway SelfStorage for $1.1M
Tucson’s Broadway Self Storage changed hands just recently, a trade publication reports. A limited liability company acquired the facility from Broadway Wilmot Self Storage, LLC and paid $1.1 million.
Titan Bank Announces the Acquisition of Its Third Self Storage Property through Funding Loan
Titan Bank, NA announced the acquisition of a 342 unit Self Storage property in Austin through the funding of a $985,000 loan, marking its third Self Storage property. With this transaction they now own and manage approximately 1,000 self-storage units.
W. P. Carey Buys Self-Storage Property in Greater Orlando
W. P. Carey Inc. took a dynamic start this year, having recently announced that one of its publicly held non-traded affiliates, CPA®:18 – Global acquired two Florida self-storage facilities last month, one of which is located in the Greater Orlando, Fla. area.
LifeStorage Opens New Facility in Chicago’s West Loop
LifeStorage has recently announced the opening of its new self storage venue in the rapidly growing, historic Chicago West Loop neighborhood.
The Chicago-based self storage provider for residential and commercial clientele, LifeStorage, was founded in 2002 with a single storage facility and has since then grown to 49 storage facilities in eight states.
$25M Tampa Bay-Area Self-Storage Portfolio Up for Sale
A three-property, 2,250-unit portfolio owned by Safeguard Self Storage is now on the market, with Marcus & Millichap Real Estate Investment Services in charge of finding a buyer.
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