Inside Self-Storage

SEP 2018

Inside Self-Storage (ISS) is an information source for industry owners, managers, developers and investors covering news, trends, facility operation, finance, real estate, construction, development, marketing, technology, insurance and legality.

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©2018 Live Oak Banking Company. All Rights Reserved. Member FDIC. No matter where you got your start, our industry experts are here to help you discover the benefts of owning a facility. Contact our team at 910.202.6933 or visit liveoakbank.com/self-storage Self-Storage owners come from various backgrounds. I T ' S W HAT ' S I N S I D E THAT MATTERS People Guardian Storage hired Michael Katz as vice president of accounting and f nance. He'll work with the company's accounting department to manage the daily bookkeeping and f nance functions, and assist with strategic f nancial planning and analysis to drive company growth. SmartStop Asset Management LLC promoted Gerald Valle to senior vice president of self-storage operations. Valle will oversee day-to-day governance of all the f rm's U.S. facilities branded as SmartStop Self Storage, including a team of 240 professionals. SiteLink has expanded its customer-support and software- development teams with the hiring of 15 new employees. The additions are intended to increase customer service and retention, as well spur new product features and updates. Pinnacle Storage Properties hired Ross Smolen as its new small- business underwriter and f nancial analyst. He'll be responsible for underwriting all transactions by evaluating loan-to-value and debt-coverage ratios, analyzing business history, and looking at long- and short-term projections. Absolute Storage Management announced changes to its leadership team, naming Scott Beatty as CEO, Jennifer Barnett as chief operating off cer and Matt Bailey as chief investment off cer. Michael Haugh will remain chairman, primarily seeking acquisition and development opportunities for the f rm. Jernigan Capital Inc. hired Jonathan Perry as executive vice president and chief investment off cer. Perry will oversee all investment and asset-management activities including the development of new relationships with self-storage entrepreneurs, origination of investment opportunities and managing relationships with third-party managers. Mark V. Shoen, a major shareholder of U-Haul International Inc. parent company AMERCO and owner of one of the largest private self-storage operations in the U.S., has been identif ed as the richest person in Arizona by "Forbes," which released a ranking of the wealthiest individual in each state. Shoen's net worth of $3 billion comes from owning roughly one-f fth of AMERCO through a limited partnership called Willow Grove Holdings LP. His storage company does business with U-Haul.

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