New Acquisition Buyers Panel Insights into Self-Storage Business Trends
Discover insights from the New Acquisition Buyers Panel discussion moderated by Nick Malagisi on the self-storage industry trends, acquisitions in 2019, investment criteria, and managing facilities. Learn from experts in the field about their backgrounds, financing sources, and geographic target areas.
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Presentation Transcript
Tuesday, January 7, 2020 New Acquisition Buyers Panel New Acquisition Buyers Panel Moderated by Nick Malagisi, SIOR National Director Self Storage SVN Commercial Realty
Panel Discussion Members: Benjamin S. MacFarland, III Chief Executive Officer & Co-Founder Storage Rentals of America/SROA Brian Cohen President & Founder of Andover Properties, LLC Storage King Self Storage Jake Ramage Richard Schontz President & CEO Snapbox Self Storage CEO City Line Capital Anna Siradze Manager, Acquisitions Clutter SVN INTERNATIONAL CORP. WWW.SVN.COM WWW.SVN.COM
New Acquisition Buyers Acquisitions for 2019 Company # Facilities NRSF $ Volume SROA Capital 50 2,600,000 $300,000,000 City Line Capital 55 3,410,000 $325,000,000 Snapbox Self Storage 8 600,000 $70,000,000 Andover Properties 23 1,680,000 $167,350,000 Clutter* 9** 2,200,000 $152,000,000 * (4) Self Storage Acquisitions as of Q3-2019 at $152M; ** (5) 1.8M NRSF is NNN Warehouse for on-demand storage WWW.SVN.COM WWW.SVN.COM
Clutter On-demand Storage Warehouse WWW.SVN.COM WWW.SVN.COM
New Acquisition Buyers I. Please give our audience some background on yourself and then how you got into the self storage business. SVN INTERNATIONAL CORP. WWW.SVN.COM WWW.SVN.COM
New Acquisition Buyers II. Where did your debt and equity come from initially and where is it coming from today? SVN INTERNATIONAL CORP. WWW.SVN.COM WWW.SVN.COM
New Acquisition Buyers III. What is your investment criteria and geographic target area? SVN INTERNATIONAL CORP. WWW.SVN.COM WWW.SVN.COM
New Acquisition Buyers IV. Four of the five of you self manage your own stores. Q. Did you start out managing your own facilities from day one? If so, what was the reasoning behind self managing vs. using 3rd party management of your facilities? SVN INTERNATIONAL CORP. WWW.SVN.COM WWW.SVN.COM
New Acquisition Buyers V. There's a discussion in our industry as to whether or not "on demand" storage is adding new customers to the self storage industry, or is "on demand" storage taking customers from the smaller size units?" Q. What do each of our panel members think about that statement, starting with Anna from Clutter? SVN INTERNATIONAL CORP. WWW.SVN.COM WWW.SVN.COM
New Acquisition Buyers VI. Fast Answer Questions a. Will the Storage industry continue to see more consolidation in 2020? b. Have Cap Rates finally leveled off, or will we see further compression of Cap Rates with the decrease in the 10-year T-Bill? c. Block chain technology: Is it coming to the self storage industry anytime soon? d. Will President Trump get re-elected in 2020? SVN INTERNATIONAL CORP. WWW.SVN.COM WWW.SVN.COM
