2011 may have started off slow but it really picked up some steam as the year went on. We think these are the greatest highlights from the market in general and from our company:
- Cap rates now back to levels we saw at the top of the market in 2006-07.
- Transaction volume picking up steam in the last quarter of 2011.
- Self Storage REIT stocks were the best performing in 2011.
- CMBS markets getting started again.
- Many all cash buyers looking to invest in self storage.
- Local banks now financing self storage at rates in the 5.5-7% range.
- Feasibility studies have begun once again.
We consider these our greatest self storage accomplishments for 2011:
- Last four months of 2011 we closed 5 transactions totaling $12,750,000!
- We received and completed 4 feasibility studies for expansions and new projects in the last quarter of 2011.
- We listed for sale $17,435,000 in self storage properties in the last quarter of 2011.
Here’s to a bigger and even better year in 2012!