New York Real Estate Journal- Editorial
by Nick Malagisi, SIOR
NYSSA Investment Forum
Union League Club, NYC – January 7, 2020
The NYS Self storage Association, in partnership with the National Self Storage Association, held its 12th annual “Investment Forum” this past week at the Union League Club in NYC. This is a national self storage Conference intended for the Real Estate and Capital Markets professionals from across the nation as principals or resources serving our industry.
Keynote address was given by Calvin Schnure, Sr. VP of Research at NAREIT, to a sell out audience. Talonvest Capital principals updated attendees on the changes occurring in both the debt & equity markets with their guest speakers from Wells Fargo Bank of NY; Smart Stop Self Storage; Blue Vista Capital & self storage & C-111 Commercial Mortgage.
The Real Estate Development and Acquisitions panels were moderated by myself with the New Buyers panel consisting of principals from leading acquisition companies. Yardi Matrix gave a presentation on the status of Supply & Demand across the USA. They are now tracking occupancies, rental rates & discounting of facilities in the top 100 markets in the US.
The Real Estate Acquisitions panel is always the highlight session of the conference as it consisted of the 5 CIO or Sr. VP of Real Estate from the public self storage REITS in our industry with myself as moderator.
Jon Dario, COO of Edison Properties & Chairman of the NYSSA, gave opening remarks on the state of our NYS Association. He then introduced Tim Dietz, CEO of the National Self Storage Association, who spoke on the legal challenges facing our industry now that we are “no longer under the radar screen” and the benefits of belonging to the national association.
This NYSSA event always precedes the Keybanc annual self storage REIT conference by one day where the CEO’s of the five publicly traded REITS are interviewed by the Wall Street analysts & asked to give a state of the industry.