This episode is packed with insights from SmartStop's latest earnings, a deep dive into what's happening on the ground, and a conversation with industry leaders like Alex Burnham and Michael Schwartz. We talk about why the market is a "shrinking" one, why experience is key, and how some developers are finding new opportunities in challenging environments . Join us as we discuss the nuances of demand and supply, the importance of a long-term strategy, and what a recent lender survey reveals about the top concerns in the self-storage space.
In this episode, you'll hear about:
- SmartStop's positive NOI growth, a rarity among recent REIT earnings.
- Alex Burnham's take on the market, which has outpaced the REITs for 10 straight quarters.
- Why the industry might be a "shrinking market," and what that means for marketing and demand.
- Lender concerns about oversupply and absorption risk.
- A case study on a portfolio deal that yielded a massive 42% IRR.
- The unexpected trend of LA cities becoming more receptive to self-storage projects.
- How having experience and an "end in mind" is crucial for navigating market challenges.
Tune in for a candid and informative chat that helps you understand the current pulse and future direction of self-storage!
Connect with Us:
Thaddeus Campbell:
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Website: https://s3.partners/
Connect with Chris Berg:
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Website: https://abernatheydev.com/
Connect with Our Data Partner, TractIQ:
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Email: [email protected]
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Website: https://tractiq.com/
