We're kicking off with a huge number: $800 million, the amount Extra Space is looking to raise in notes. This move, along with SmartStop's $500 million in Maple Bonds, suggests that some of the industry's biggest players are preparing to make some serious moves in the market.
We also explore a fascinating story Chris uncovered using AI about a California city council meeting. The city of Cerritos is considering lifting a cap on the number of self-storage businesses, a move that could be a win for both developers and consumers.
In this episode, you'll hear about:
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Why Extra Space and SmartStop are raising hundreds of millions in capital.
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What "Maple Bonds" are and why SmartStop's offering was a first for the self-storage industry.
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A real-world example of how AI can be used to find crucial information on local government meetings.
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The shift in a city's view of self-storage, from a limited asset to a needed service that provides economic opportunities.
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Why industry leaders are preparing to acquire assets at a discount and are seeing a potential for major market shifts.
Tune in for a candid and informative chat that helps you understand the current pulse and future direction of self-storage!
Connect with Thaddeus Campbell:
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Website: https://s3.partners/
Connect with Chris Berg:
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Website: https://abernatheydev.com/
This episode was brought to you by: https://www.tractiq.com
