New York Real Estate Journal- Editorial
by Nick Malagisi, SIOR
NYSSA Investment Forum
Union League Club
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 venue 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 updated attendees on the changes occurring in both the debt & equity markets with their guest speakers from StorQuest Storage, Metro Self Storage & Christian Sonne, Chief Appraiser at CBRE’s self storage division.
The Real Estate Development and Acquisitions panels were moderated by myself with the Development panel consisting of representatives from the data/information companies now tracking our industry; STR, Yardi Matrix, REIS and Union Realtime. These companies differ somewhat in their information resources and output, but are now tracking occupancies, rental rates & new developments 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 4 of the 5 CIO or Sr. VP of Real Estate from the public self storage REITS in our industry and myself as moderator.
Jon Dario President of Manhattan Mini Storage & 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.
I was honored, once again, to be on the national broker panel during this event.