BlackSwan Zine

Only a handful of young startups raised early stage funding last week. But even if the last week of the quarter was a busy month for North American investors, SpareFoot.com would probably still stand out.

A roundtable of real estate experts discuss the state of self-storage in the north-central region.

Noyack Medical Partners forming $200M Fund to invest in distressed “HESS” opps – Healthcare; Student Housing, and Self-Storage

Strategic Storage Trust Inc. has acquired two self-storage facilities totaling 880 units for $3.5 million. The non-traded REIT bought the 1980s-era properties in an all-cash transaction.

Grubb & Ellis AGA US Realty Fund manager Jay Leupp predicted last week that self storage real estate will bounce back before most of the rest of the real estate market, probably within a year or two.

Jay Leupp, manager of the Grubb & Ellis AGA US Realty Fund(GBEUX), expects real estate investment trusts that invest in apartments, health care and self-storage sites to gain.

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.

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.

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.

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 [...]