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Newmark Arranges Recapitalization of 14-Property Dallas-Fort Worth Self-Storage Portfolio for Hines and CubeSmart
CUBECubeSmart(CUBE) Prnewswire·2025-01-31 14:00

Core Insights - The joint venture between Hines and CubeSmart represents one of the largest self-storage portfolio transactions in the United States for 2024, highlighting the strength of the Dallas-Fort Worth market and the appeal of high-quality storage assets across the country [2][3] Company Overview - Hines is a leading global real estate investment manager with 93.0billioninassetsundermanagementacrossvariouspropertytypes,servingadiversegroupofinstitutionalandprivatewealthclients[4][5]−CubeSmartisaself−administeredandself−managedrealestateinvestmenttrust,recognizedasoneofthetopthreeownersandoperatorsofself−storagepropertiesintheUnitedStates,offeringaffordableandaccessiblestoragesolutions[6]MarketDynamics−Theself−storageportfolioincludesover9,700unitsandmorethan1.25millionnetrentablesquarefeet,strategicallylocatedinkeysubmarketsofDallas−FortWorth,benefitingfromrapidpopulationgrowthandincreasingdemandforself−storage[2][3]−AccordingtoNewmark′sQ32024Self−StorageReport,Dallasranksthirdinprojectedpopulationgrowth,indicatingastrongcorrelationbetweenfavorablemacroeconomictrendsandsignificantinvestmentactivityintheself−storagemarket[3]FinancialPerformance−Newmarkgeneratedapproximately93.0 billion in assets under management across various property types, serving a diverse group of institutional and private wealth clients [4][5] - CubeSmart is a self-administered and self-managed real estate investment trust, recognized as one of the top three owners and operators of self-storage properties in the United States, offering affordable and accessible storage solutions [6] Market Dynamics - The self-storage portfolio includes over 9,700 units and more than 1.25 million net rentable square feet, strategically located in key submarkets of Dallas-Fort Worth, benefiting from rapid population growth and increasing demand for self-storage [2][3] - According to Newmark's Q3 2024 Self-Storage Report, Dallas ranks third in projected population growth, indicating a strong correlation between favorable macroeconomic trends and significant investment activity in the self-storage market [3] Financial Performance - Newmark generated approximately 2.6 billion in revenues for the twelve months ended September 30, 2024, and operates nearly 170 offices globally with over 7,800 professionals [7]