Extra Space just raised its same-store year-over-year revenue growth projection to +2.75%-3.5%, up from +2.5%-3.5%. Compare this to the year-over-year published web rates, down -13%. Therein lies the magic of self storage. Leases are all month-to-month,...
On October 31, 2023, the Wall Street Journal published an article titled “Commercial Real Estate Lending Slows Down”. Click here to read the online article re-titled “The Money Has Stopped Flowing in Commercial Real Estate."
Soliciting feedback from our peers in commercial real estate private equity, we confirm our belief that very few transactions are occurring. The headwinds are strong.
Based on recent broker feedback, around 50% of all current value-add self storage acquisition opportunities offer the buyer some component of owner financing. This financing structure was unheard of just a couple of years ago when bank financing was...
One of the best features of storage is how diverse the demand drivers are, meaning there are a lot of different reasons why people use it. Many of those reasons are largely static in nature; they happen regardless of the state of the economy.