Kennards Self Storage News & Updates

Category archive: International News

169 Storage Centres Trade in $1.4 Billion Transaction

extra space storage

Clearly the largest self storage transaction in over 10 years, Extra Space have agreed to acquire the SmartStop Self Storage Portfolio in the U.S.A.

Comprising 169 locations across 21 U.S. states and Toronto Canada. Extra Space will pay $1.29 billion (USD), with the balance of the proceeds coming from surplus asset disposal. 121 locations are fully owned while another 43 are managed properties. Extra Space will assume management of these. 5 locations will be sold by SmartStop separately.

The acquisition is said to be accretive to Extra Space funds from operations (FFO) and with an annual dividend yield of just 2.8% this should not be too difficult.

SmartStop is the 7th largest self storage owner in the U.S.A.

After the acquisition Extra Space will boast over 1,200 storage centres, with a market capitalisation of over $7.6 billion.

Self storage trading performance has been exceptional in the U.S.A. in recent years with all four established Storage REIT’s occupancies exceeding 90% in the first quarter of 2015.


Wow, this is a tiny house!

article-2321429-19AEE759000005DC-403_634x432This pop-up house in London is squeezed between 2 terrace houses. It is only a couple of metres wide, must be occupied by very skinny people and would surely be short of storage space. We wonder how they even fit their beds in!



Londons Narrowest Home





Storage REITs Enjoy a Boom

Kennards Self Storage is pleased to share this article from the Wall Street Journal which observes the performance of the Storage Real Estate Investment Trusts in the USA, against other property sectors.

The storage sector has enjoyed the strongest returns of all property classes.

One of real estate’s least-exciting businesses—warehouses that allow people to store their unused sofas, lamps and other household goods—have become a hit with investors.

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Self storage in Japan still in infancy but professional players now emerge

The Japanese do not have the same consumer mindset and lack the natural accumulation instincts of Australians, Kiwis and Americans. This has not stopped the emergence of a self storage industry in Japan though.

The incredibly tight living environment provides other demand drivers for storage. Apartments are very small, so storage offers another avenue for people to enjoy more space without surrendering their stuff.

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