In our final episode of 2025, I break down the headline news: BlackRock has deployed $101.5 million to refinance a self-storage portfolio, signaling that smart money is still bullish on the sector despite interest rate headwinds. We also discuss: The 2026 Rebound: Stan Bonilla (SVP, Safeguard Self Storage) joins us to explain why a thawing housing market in 2026 will drive the absorption necessary to stabilize rates after years of oversupply. Supply Data: We dissect the DXD Capital Q3 Report, which confirms a significant slowdown in new deliveries, good news for operators looking to push rates next year. Top Growth Markets: We reveal the Top 10 MSAs for self-storage development in 2025, with Atlanta and Phoenix leading the pack. Faith in Business: Cody Baker shares a personal look at how his faith guides his decision-making in the capital markets. Tune in for the data you need to close out the year and prepare for a profitable 2026! Connect with Thaddeus Campbell: Email: [email protected] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Our Partners: QuikStor: Get a free demo (and waive the $995 onboarding fee!) at https://quikstor.com/ Tract IQ: Visit https://tractiq.com/tssr/ Johnson Insurance: Get a free risk assessment at https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage

In this episode, I break down the end-of-year data revealing a 20% jump in self-storage transaction volume, driven largely by Public Storage's $631 million spending spree. We analyze why cap rates remain stubbornly low (in the 5s) despite high interest rates and what that signals for 2026. We also cover: California Law Alert (SB 709): Going into effect Jan 1, 2026, this law forces operators to disclose rate hike limits and promotional terms in rental agreements. We explain exactly what you need to do to comply. REIT Rates: We dissect Skyview Advisors' latest report on "Achieved Rates," contrasting CubeSmart's stability with Extra Space's volatility following their aggressive rate increase strategies. The AI Standard: From Public Storage handling 85% of rentals via chatbots to QuikStor's automated management, we discuss why adopting AI is no longer optional for serious operators. Hidden NOI: We tease a new opportunity in New York involving Battery Energy Storage Systems (BESS), allowing owners to lease land to support the electrical grid. Tune in for the regulatory and financial updates you need to start 2026 on the right foot! Connect with Thaddeus Campbell: LinkedIn: https://www.linkedin.com/in/itsthadcampbell Our Partners: QuikStor: https://quikstor.com/get-quikstor-demo/ Tract IQ: https://tractiq.com/ Johnson Insurance: https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage

In this special roundtable episode, we are joined by three of the industry's top capital markets experts: Anna Siradze-Herdina (Talinvest), Andy Bratt (Gantry), and Cody Baker (Baker Capital Partners). We pull back the curtain on what lenders are really thinking as we close out 2025. We cover: The "Extension" Problem: Why lenders are done extending loans for stalled lease-up projects and what that means for borrowers stuck at 50-60% occupancy. Interest Rate Myths: The panel debunks the idea that Fed cuts equal immediate mortgage rate drops. We discuss why borrowers are moving to 7-10 year fixed debt instead of waiting for a market miracle. Construction Debt: Why banks have resurged as the primary source for construction loans, while life companies stick to permanent debt. Underwriting 2026: The #1 advice from our panel: Stop fluffing your pro forma. Lenders are scrutinizing rental rate assumptions more than ever, you need data to back up your story. Tune in for a masterclass on how to get your self-storage deal funded in the new year. Connect with Our Guests:  Anna Siradze-Herdina (Talinvest): [email protected] Andy Bratt (Gantry): [email protected] Baker (Baker Capital): [email protected] Connect with Thaddeus Campbell:LinkedIn:   / itsthadcampbell   Our Title Sponsor: QuikStor: Go to https://quikstor.com/ for a free demo!

In this episode, Thaddeus Campbell breaks down the Federal Reserve's quarter-point rate cut and the surprise guidance that only one more cut is expected in 2026. We discuss how the Fed's new $40 billion treasury buyback program is designed to flood banks with liquidity—and what that means for your ability to get a loan . We also cover: The Lending Data Anomaly: We dissect why construction lending surged in 2024 despite a slowdown in project deliveries, questioning if this signals a hidden boom or a market misalignment . Construction Costs: We share a critical update from Wayne Woolsey (Kiwi II Construction): Steel prices have finally stabilized at $900/ton, giving developers a green light to pencil new deals . Deal Killers: Thad walks through a real-world example of using Tract IQ to kill a deal in El Paso, TX, proving why granular data is the only protection against oversaturation . Faith & Discipline: We close with an inspiring segment featuring top UFC Fighter Shane Burgos, discussing the role of faith and discipline in achieving elite performance . Tune in for the financial data you need to navigate the start of 2026! Connect with Thaddeus Campbell (S3 Partners): https://www.linkedin.com/in/itsthadcampbell/ Connect with Chris Berg (Abernathey Development): https://www.linkedin.com/in/chrisbergreal/ This episode was brought to you by: Tractiq https://tractiq.com/ Johnson Insurance https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage    

In this episode, we are joined by Brett Henry, CEO of Trojan Storage and the visionary new owner of QuikStor. Brett shares his masterclass in operations, detailing how he went from managing a 12-site portfolio to a $245 million exit, and why he's now betting big on software. We discuss: The Operator's Edge: Why Brett still personally reviews rent rolls for his 54 locations and how "living the numbers" is the secret to finding hidden value that others miss. The Software Problem: Brett reveals his frustration with industry-standard software (slow reports, lack of real-time data) that drove him to buy QuikStor and rebuild it from the ground up for the modern operator. Automation & Efficiency: How QuikStor enables true automation, centralized mailings, instant lease updates, and "no-key" rentals, allowing for significant labor savings and NOI growth. David vs. Goliath: Why independent operators don't need to sell out to the REITs to compete. Brett argues that, with the correct data and systems, regional players can outperform the giants. Tune in to hear how one of the industry's best operators is building the tools to help you win. Connect with Brett Henry: QuikStor: QuikStor.com Connect with Thaddeus Campbell (S3 Partners): https://www.linkedin.com/in/itsthadcampbell/ Connect with Chris Berg (Abernathey Development): https://www.linkedin.com/in/chrisbergreal/ This episode was brought to you by: Tractiq https://tractiq.com/ Johnson Insurance https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage

In this episode, we break down the blockbuster report from Heitman (managing $48B in assets) which confirms that self-storage has outperformed multifamily, industrial, office, and retail over the last 15 years. We discuss why thinking in "50-year asset" terms is the key to generational wealth. The Supply Opportunity: We analyze the Yardi Matrix data showing a "new all-time low" in the four-quarter trailing supply average. We explain why this is a bullish signal for developers to get shovels in the ground now while others are retreating . Consolidation News: Hear our take on the SmartStop/Argus deal and why technology is forcing smaller management companies to merge or sell. Hidden Risks: Our partner Terry Campbell reveals a critical insurance blind spot regarding Boat & RV tenants that could cost you your NOI . The Macro Play: We discuss the probability of a Fed rate cut in December and predict how a potential new Fed Chair in May could aggressively lower rates to save the economy before the midterms. Tune in for the data you need to make smart investment decisions this holiday season! Connect with Thaddeus Campbell (S3 Partners): LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Chris Berg (Abernathy Development): LinkedIn: https://www.linkedin.com/in/chrisbergreal/ This Episode was brought to you by: TractIQ https://tractiq.com/tssr Johnson Insurance
 https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage  

The days of "throwing a dart at a map" are over. In this special roundtable episode, we (Chris and Thad) sit down with Lauren Feeney (Trojan Storage) and Cam Paktinat (DXD Capital) to pull back the curtain on the current state of self-storage development. We cover: The Supply Crisis: Why "negligent" developers are flooding markets and how to use defensive underwriting (like zoning maps) to protect your capital. Creative Wins: Hear the stories of how Trojan saved a deal in Inglewood by buying the neighbors' houses and how DXD built a daycare to secure a prime site in Rhode Island. Data & AI: How the top pros are using historical data and AI tools to underwrite deals, check zoning, and even create renovation mockups in seconds. The Outlook: Why we remain bullish on the asset class long-term, backed by data like Extra Space's record October occupancy. If you are buying dirt or building storage, this conversation is essential listening. Connect with Thaddeus Campbell (S3 Partners): https://www.linkedin.com/in/itsthadcampbell/ Connect with Chris Berg (Abernathey Development): https://www.linkedin.com/in/chrisbergreal/ This episode was brought to you by: Tractiq https://tractiq.com/

We're tackling the biggest market risks this week! We discuss the proposal for a 50-year mortgage as a desperate measure to keep the housing market afloat, which we view as a critical signal of a system under enormous financial pressure, consistent with the 18.6-year real estate cycle. The Biggest Threats: CMBS Loan Crisis: We reveal the $21 billion in CMBS loans outstanding in self-storage and how $2 billion are essentially delinquent, forcing lenders into an "extend and pretend" scenario by extending interest-only periods to delay mass foreclosures. Insurance Gaps: Our risk partner, Terry Campbell, warns against focusing only on rising premiums, urging you to audit your coverage for hidden gaps that could be devastating after a natural disaster . Boots on the Ground: We highlight the strategy of Wentworth Properties, who build custom assets by getting "boots on the ground" to understand true market need, rather than relying solely on easy data. And finally, Chris shares an incredibly powerful personal story from his Homes for Hope trip to Mexico, reinforcing our belief that business success is about more than just making money, it's about serving a higher purpose. Connect with Thaddeus Campbell (S3 Partners): https://www.linkedin.com/in/itsthadcampbell/ Connect with Chris Berg (Abernathey Development): https://www.linkedin.com/in/chrisbergreal/ This episode was brought to you by: Tractiq https://tractiq.com/ Johnson Insurance https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage Find the Show on YouTube: youtube.com/@theselfstoragereport

The Q3 REIT Earnings are in! We break down the true meaning of the latest financial reports with Noah Starr, CEO of Tract IQ and former institutional investor. Noah drops the bombshell: the real issue isn't Extra Space's controversial ECRI strategy; it's widespread oversaturation and poor capital allocation In this episode, we discuss: The Investor's Blind Spot: We analyze why most developers invest "on hope" using misleading metrics like square footage per capita, leading to millions in losses when markets are oversaturated. The Street Rate Dive: We break down the charts showing how Extra Space dropped street rates dramatically to maintain the highest occupancy, while Public and CubeSmart prioritized maintaining higher achieved rents . The Ultimate Risk: Noah shares his experience: ignoring REIT data is a "ten, eleven, twenty million dollar mistake". We challenge the industry to be more like the hotel space and share performance data publicly to eliminate bad deals. Tailwinds: We discuss the strong growth of micro-apartments, which drive self-storage demand by making storage a necessary amenity in small living spaces . Tune in for the unfiltered truth about where the self-storage market is headed! Connect with Thaddeus Campbell (S3 Partners): https://www.linkedin.com/in/itsthadcampbell/ Connect with Chris Berg (Abernathey Development): https://www.linkedin.com/in/chrisbergreal/ This episode was brought to you by: Tractiq https://tractiq.com/ Johnson Insurance https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage Find the Show on YouTube: youtube.com/@theselfstoragereport

We're breaking down the earnings calls! We analyze Public Storage's surprising flat NOI and Extra Space's nine months of negative NOI. In this episode, you'll hear: The 30% Workforce Cut: We reveal how Public Storage leveraged technology to drive 85% of customer interactions to digital, leading to a massive 30% reduction in labor hours. The Development Warning: We discuss Public's stark prediction that development will be slow through 2027 due to high costs and low appraisal values. This news creates a massive opportunity for those of us who are still finding and underwriting deals The Cap Rate Wars: We dissect how Public is winning the acquisition game, buying assets at 5.25% to 5.5% cap rates thanks to their low cost of capital, a level most traditional developers can't touch. The Economy's Cracks: We analyze the persistent weakness in the labor market (layoffs at Amazon, UPS, etc.) and how the Fed's 50-bip cut has failed to move the 10-year Treasury, stifling the housing movement self-storage needs . New Segment: We introduce our new segment, "How Faith Fuels Your Business," featuring Cam Packtinat from DXD Capital. Connect with Chris Berg: LinkedIn: https://www.linkedin.com/in/chrisbergreal Connect with Thaddeus Campbell: LinkedIn: https://www.linkedin.com/in/itsthadcampbell This episode was brought to you by: Tract IQ: https://tractiq.com/ Johnson Insurance: https://gojohnsoninsurance.com/self-storage-insurance/?utm_source=s3partners&utm_medium=social&utm_campaign=jisselfstorage