Manhattan Mini Storage’s portfolio spans 56,000 units, or 3.1 million square feet, and its occupancy rate currently exceeds 95 percent.
The improving fundamentals in the sector are attracting multiple bids on available properties.
Mark Winmill says the pandemic has shown the resilience of the self-storage sector.
A strong run throughout the pandemic and stable fundamentals continue to make the sector a popular draw for many types of real estate investors.
With the completion of this deal, BREIT is now the third largest non-listed self-storage operator in the country.
There are a lot of important things to consider with multi-story self-storage construction.
Buchanan Street Partners plans to spend $350 million to $500 million to buy and build in the sector.
After an initial hit, occupancies and rents for self-storage properties has stabilized, especially as developers have slowed the pace of deliveries.
To truly understand revenue opportunities in self-storage, we must appreciate the magnificent possibilities afforded in offering rentals by the month.
The company has fielded interest from prospective suitors.