In an all-cash transaction, Strategic Storage Trust, Inc. (SSTI) — a publicly registered non-traded REIT targeting the self storage market — recently acquired two facilities located in Fort Lee, N.J. and Weston, Fla. for a combined purchase price of approximately $23 million.
Read more →Morningstar Mini-Storage opened a new four-story self-storage facility in February at the intersection of West Tyvola Road and South Tryon St. in Charlotte, N.C. The facility is located near Steele Creek, Charlotte-Douglas International Airport, as well as the new City Park mixed-use community, formerly the site of the Charlotte Coliseum.
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U-Store-It Trust announced its operating results for the three months and year ended December 31, 2009. “We are very pleased with our capital raising efforts during 2009,” said Dean Jernigan, Chief Executive Officer of U-Store-It.
Read more →Extra Space Storage Inc. (”Extra Space” or the “Company”) (NYSE: EXR) announced today that it has closed its previously announced joint venture (the “JV”) with an affiliate of Harrison Street Real Estate Capital, LLC (”HSRE”).
HSRE contributed approximately $15.8 million in cash to the JV in return for a 50.0% ownership interest. The Company contributed [...]
A dozen U.S. real estate investment trusts, part of an industry that raised $33 billion last year, likely will increase their next quarterly dividends.
Public Storage, Annaly Capital Management Inc., and Inland Real Estate Corp. are among those that may boost payouts, data compiled by Bloomberg show. Vornado Realty Trust said this week it would resume paying its dividend fully in cash after a year of issuing it partially in stock.
“I do see the strongest companies perhaps increasing their dividends,” said James Sullivan, an analyst with Green Street Advisors, a Newport Beach, California-based real estate research company.
Read more →Despite a contraction in self-storage development activity, declining discretionary incomes and the soft, single-family housing market will continue to weigh on self-storage demand. Occupancy levels at self-storage properties are trending lower as job losses and falling home values encourage households to save more and avoid unnecessary expenditures.
In an attempt to mitigate occupancy decreases, owners have [...]
After a year of roller-coaster performance, the real estate investment trusts are ending the year on a high note; but investors shouldn’t expect as much excitement in 2010, according to The Wall Street Journal. One of the few REITs that may perform well next year is self-storage, as it isn’t dependent on job creation.
Early in [...]
DALLAS, Dec. 7 /PRNewswire/ — EBS, a San Diego based Self Storage Operator, acquired its 64th property with the closing of Advantage Storage in Plano, Texas. This is the 24th property that EBS has acquired and now operates in the State of Texas.
Equity Based Services, Inc. (”EBS”) announced today that they have purchased Advantage Self [...]
A smart older real estate investor once told me, “In lean markets, buy raw land and hang onto it. Land can’t burn down. Nobody can steal it. If you’re patient, its value always increases. And you don’t even have to insure it.”
That’s wise advice. Yet undeveloped land isn’t the only smart real estate investment for [...]
With the sudden collapse of the residential real estate market in recent months, many people have chosen to invest in self storage facilities. These facilities offer several advantages over investments in residential or other commercial real estate opportunities. These advantages include low monthly maintenance costs, high profit potential, and the general ease of ownership. Unlike [...]
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