With the recent acquisition of two former CityStore properties in Aylesbury in Buckinghamshire and Dunstable in Bedfordshire, StorageMart extends its influence in the competitive UK market. These locations fit very nicely into our existing portfolio of assets and our Greater London strategy. We have had a banner year for performance of our existing UK portfolio, and expansion of our UK footprint makes a lot of sense for us at this time as a result.” The new UK locations are two of many in a series of acquisitions, joining recent US closings in Indiana, Iowa, and Maryland. With more acquisitions either planned…
Category: Recent Transactions
Tulfra Real Estate Acquires Land in Jersey City for 2,422-Unit Self-Storage Project
Locally based developer Tulfra Real Estate has acquired land in Jersey City for the construction of a 2,422-unit self storage project. The facility will be located at 300 Thomas McGovern Drive and will have a gross square footage of approximately 261,000 square feet, including an adjoining parking structure will also be constructed as part of the project. Thomas Walsh of Walker & Dunlop brokered the land deal. A groundbreaking date will be announced in the coming days. According to Tulfra, there are approximately 159,000 housing units and 22,500 new apartments…
Cinch Self Storage Purchases Brighton, England Facility
Cinch Self Storage, which operates six locations in England, acquired a facility in Brighton, England. The property at The Depository, South Road comprises 12,500 square feet. Financing was provided by Lloyds Bank. Cinch operates locations in Bicester, Chippenham, Huntingdon, Letchworth and Leighton Buzzard. Source
Self Storage Firm Secures Bank Backing for Expansion
A self storage business with sites across the South East is poised for further growth after securing the backing of Lloyds Bank. Cinch Self Storage has purchased an already-operational 12,500 sq ft facility in Brighton, comprising units ranging from 15 to 250 sq ft. We’re an ambitious and rapidly-growing company, which is reflected by the purchase of our sixth facility in just three and a half years, with more to follow.” The acquisition was backed by a seven-figure loan from Lloyds. Cinch has existing facilities in Bicester, Chippenham, Huntingdon, Letchworth…
Self Storage Company Launches Facility at Former Magistrates Court
The newest addition to the fast-growing Storage Giant portfolio has been launched in the former Oldbury magistrates court. The site offers a purpose-built self storage facility featuring more than 26,000 square feet of unit space, from ten square foot lockers to 330 square foot units. This expansion is, of course, good news for Storage Giant – a firm which started life as a single facility concern in Newport, Wales during a recession” Simon Williams, Storage Giant MD, said: “This latest launch for Storage Giant, just five minutes from the motorway…
Big Yellow Group to Build in Epsom, England
U.K. self storage operator Big Yellow Group PLC is building a facility on a 0.8-acre site in Epsom, England, just south of London. The company purchased the property for £6.5 million. Once complete, the project will be 56,000 square feet. Big Yellow Group operates 101 self storage locations in the United Kingdom under the Big Yellow Self Storage and Armadillo Self Storage brand names, with most concentrated in Greater London and Southeast England. Source
Big Yellow Group Completes Armadillo Acquisition with Placing Funds
Big Yellow Group PLC on Thursday said it has completed its acquisition of Armadillo with funds from a recent placing. The Surrey, England-based self storage provider revealed plans to acquire the remaining 80% stake in Armadillo, last Wednesday. The purchase was funded by a placing worth GBP100 million from of 7.8 million shares, priced at 1,290 pence each, completed last Thursday. Big Yellow now owns 100% of Armadillo, which includes both Armadillo Storage Holding Company Ltd and Armadillo Storage Holding Company 2 Ltd. Big Yellow Group shares were trading down…
Abacus (ASX:ABP) Grabs Self Storage Portfolio for $160 Million
Abacus Property Group (ABP) has acquired a portfolio of self storage assets managed by Storage Kings in Sydney for $160 million. The portfolio of five assets provides more than 25,000 square metres of net lettable area and comprises three stores located in Chatswood, Artarmon and St Leonards. The assets are located within tightly held catchments, benefitting from significant self storage demand generated from above average household incomes, large proportions of renters and continually increasing density from apartment development” It also includes a site in Dee Why and a newly developed…
EU Investors Back $100 Million ‘COVID-19 Opportunity Fund’
Jameson Capital secured $25 million from two European cornerstone investors for a $100 million fund that will provide debt and take equity positions in real estate opportunities created COVID-19. Last-mile logistics, childcare, seniors living, self storage, data centres, medium density residential housing and healthcare are being targeted for the so-called special situations fund. As a secured lender will we will also share in exposure to any upside by taking a share of the profits at the end of the project” “We’ll be making loans to asset owners in various sectors,” said…
On the Rise: Self Storage Poised for a Bright Future in Southeast Asia
The demand for self storage in Southeast Asia has been growing steadily. Land is becoming scarce as cities become more densely populated, and the average house size is shrinking. As a result, many consumers are beginning to turn to self storage as an affordable solution to their lack of space. It’s likely that demand will remain, as storage is an essential need for many, whether for personal or business use. Here are some other things driving the market in the region: Land costs. Prices for residential, retail and industrial real…