Global Reach With Storage Expertise CBRE, Self Storage Advisory Group
As the world’s largest commercial real estate services and investment firm, CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, has what it takes to deliver exceptional results to any type of buyer or seller. CBRE’s Self Storage Advisory Group, which is led by senior vice president Nick Walker, closed more than $200 million in self-storage sales in 2015 and expects to close $300 million in 2016.
While these remarkable numbers speak volumes, there is much more to CBRE, the Self Storage Advisory Group, and Nick Walker, that make choosing CBRE an easy and safe choice in today’s robust marketplace. Experience and knowledge are two of the group’s greatest assets. Collectively, the Self Storage Advisory Group, which consists of six members, has 30 years of experience.
Nick has had first-hand experience with self-storage since he was 15 years old, when he began sweeping out units at his family’s facilities. As he grew in age, he also moved up the ladder, eventually overseeing multiple facilities as an area manager. “I had the opportunity to learn about the acquisition process from an early age as we acquired different properties,” Nick says. “My family has been in the self-storage industry since 1984, and I am a product of this industry. I literally learned to drive on one of our properties.”
Nick’s self-storage roots have enabled him to become one of the industry’s most trusted brokers. His life-long experience with the asset class has provided him with the ability to look at properties and recognize opportunities to add value. And his clients, which include all five of the publicly-traded self-storage REITs, agree.
“Not all national firms are created equal,” says Tom George of Midby Companies. “I have worked with all of them, and you will never find a better broker who understands his clients’ needs and a company that performs consistently across the board as Nick Walker and CBRE.”
In addition, Michael Garrity of Lockaway Storage says, “I have purchased and sold over a $100 million in self-storage properties throughout my career in real estate and I have never met a better person to deal with than Nick Walker. His team is professional, understood my needs, and delivered time after time. I wish I would have worked with him sooner.”
A couple of the Self Storage Advisory Group’s most noteworthy transactions include a 22-property portfolio in California the team is currently marketing and a recent five-property disposition in Texas. The group also recently brokered five separate single-party transactions that each sold for $10 million or more including Big Easy Self Storage in Kenner, La., which commanded a $16.75 million price tag.
Worldwide Services As a company, CBRE has the scale necessary to provide its clients with insight and resources, enabling them to make informed real estate decisions. It boasts more than 400 offices in more than 60 countries with more than 70,000 employees.
CBRE’s Self Storage Advisory Group specializes in the sale of self-storage properties, land for storage development, conversion sites, and portfolio dispositions. It provides assistance with the following:
Single-asset sales – CBRE’s professionals offer local market expertise to assist principals in the acquisition and disposition of self-storage properties. With access to investors from all over the world, CBRE can create a competitive bidding atmosphere that maximizes value for those principals.
Multi-property portfolios – CBRE’s multiple disposition methods provide sellers with various options to maximize returns.
Capital markets – CBRE can combine investment sales with financing and mortgage solutions for maximum flexibility. Its access to capital markets enables borrowers to obtain more loan proceeds and secure optimal debt structures as well.
Investment brokerage – CBRE’s tailored services promote efficient use of capital and can mitigate tax burdens.
Lending services – CBRE can deliver optimal financing by developing innovative strategies with focused implementation. Thorough situation analyses enable CBRE’s professionals to effectively combine consultative market perspective with advanced financing strategies.
Joint ventures/equity partners – CBRE provides investment and advisory services to sophisticated investors through target capital exploration and placement. Its unmatched expertise leads to recapitalization strategies including equity sales, debt placements, and hybrid structures.
Appraisals – CBRE employs 42 appraisers across the United States who provide a full range of estate valuation and consulting services.
CBRE also provides a detailed marketing process to yield better results in today’s environment. The underwriting and marketing strategy consists of five phases: underwriting and analysis, campaign development, marketing, negotiation, and closing. Moreover, CBRE maintains proprietary, nationally populated databases with more than 155,000 investors and agents, thus maximizing the offering’s exposure and capturing the largest pool of prospective investors. The database contains rent, occupancy, and sale information that can be sorted in countless ways to provide value to investors, lenders, and appraisers.
On top of CBRE’s extensive services and numerous technological resources, the Self Storage Advisory Group has a proven track record. Nick and his knowledgeable team have what it takes to meet any client’s needs and close any deal. The team represents individuals, syndicators, corporations, financial institutions, and REITs as well as both domestic and international investors.
“Mr. Walker and his team brought tremendous value, expertise, and credibility to our transaction,” says Edward Vassallo, vice president of US Bank. “We would not have sold the properties at the price we received without him.”
Informative Contributions In addition to CBRE’s brokerage, advisory, debt, financing, and appraisal services, the firm collects, analyzes, and reports market data for the top 50 MSAs. According to Nick, CBRE’s appraisal services enable the company to track markets in real time, providing clients and the industry with thorough, up-to-date market research. “CBRE is sought out for advice and informational services,” he says. “Investors are coming to CBRE first to get up to speed on the self-storage market.”
CBRE recently released its “Investor Survey” to assist with the dissemination of market information. The survey results, which can be accessed at SelfStorageEconomics.com, were gathered from the collaborations of 42 valuation and advisory professionals as well as interviews with more than 50 top investors, brokers, owners, lenders, and industry leaders. Indeed, the group’s market research and long-standing relationships enable the team to anticipate trends within the self-storage asset class.
When it comes to making informed self-storage investment decisions, it’s clear that CBRE’s Self Storage Advisory Group has the tools and talent to deliver unrivaled results. From market research to closing the deal, Nick and his team provide first-rate services, reliability, and a willingness to go the extra mile to meet each and every client’s unique needs.
Company: CBRE Group, Inc. – The Self Storage Advisory Group Address: 4141 Inland Empire Blvd., Ste. 100, Ontario, CA 91764 Telephone: (909) 418-2173 Email: firstname.lastname@example.org Website: www.cbre.com/invontselfstorage