Blackstone's $1.2 billion purchase of Simply Self Storage has opened the acquisition floodgates.
Keith Wetzel and Nathan McElmurry answer questions regarding recent acquisition growth, markets, and facility types.
Adaptive Reuse of the existing structure will allow work to occur in stages, with a showroom to be completed first.
"There's a lot of capital in the market, and they're looking for high-quality assets."
Capitalization rates for self storage facilities have stabilized over the previous three years.
Today’s self storage investment environment can be challenging for those looking to place capital in the asset class.
Keep in mind, though, that if there are issues with the facility, the current manager could be contributing to them.
If you are 100% occupied, this does not necessarily mean that you are profitable as a business.
In-house data provides the greatest insight into what's actually happening.
Even if an owner isn't ready to sell at the time you inquire, expressing your interest in acquiring is important.