New York Self Storage Association in partnership with the Self Storage Association
2017 Self Storage Investment & Real Estate Forum January 10, 2017 The Union League Club 38 E 37th St New York, NY 10016
Board of Directors PETER FERRARO VICE CHAIR & CEO First Management Group
FRANK CRIVELLO CHAIRMAN Storage Deluxe
KELLEY REDL-HARDISTY Guardian Self Storage
DAVID SCHWARTZ EXECUTIVE DIRECTOR Gotham Government Relations
TOM GARDEN SECRETARY Syrasoft Self Storage Software
GARO DERIAN Glenmont Self Storage
JON DARIO Manhattan Mini Storage
BARRY FEINMAN Safe Storage
JOSHUA GOLDMAN Bargold Storage
NICHOLAS MALAGISI SVN Commercial Real Estate
RONALD POPE ABC Self Storage
PETE GIOELLO Storage Post
NYSSA is a not-for-profit corporation formed in 1982. The purpose of the Association is to provide a powerful network of information and a wealth of experience to those who are in or wish to enter the self-storage industry. As a member, you benefit from the advice and experience of industry insiders and other selfstorage operators throughout New York State. The primary aim of NYSSA is to give each owner/operator a support system for dealing with lien law and auction questions, building code issues, property tax strategies, manager education and industry visibility. Our goal is to link the entire industry in New York State, to act as legislative watchdog and to be the VOICE of the self storage industry in the Empire State!
The Union League Club The Union League is a social club providing its members and guests with a quiet sanctuary and relief from the hustle of the city. The dining rooms reflect a subdued elegance with a chef and wine cellar that compare favorably with any in the city or, members can drop by the club room for a light lunch or supper. Members gather cordially for social events, theatre evenings, wine tastings or just to meet friends for a convivial drink at the bar. An active speaker program includes Public Affairs forums which have hosted outstanding speakers on current events since the 1880’s as well as library events with notable authors. The Club bestows four awards: The Lincoln Literary Award to outstanding American authors, The Theodore Roosevelt American Experience Award to individuals who have "enriched the American experience", The American History Award to an individual who has had a significant and/or enduring impact on, or relating to American History, and The Eastman Johnson Award to individuals whose unique contributions to art and culture have elevated the ideals of American Citizenship.
The Clubhouse Architect Benjamin Wystar Morris (1870-1944) designed the Clubhouse at 37th Street and Park Avenue and built it on property that once belonged to the family J.P. Morgan. It was completed in 1931. The Georgian exterior, with its symmetrical red brick facade, reflects familiar motifs from Park Avenue brownstone mansions, but on a grand ten-story scale. The architectural ensemble formed by the entrance foyer and grand staircase stands as one of Morris’s great successes and as a New York landmark interior. It is the Union League Club’s fourth Clubhouse.
Union League's Role in History Founded in 1863 by a group of concerned citizens to help preserve the Union, the Union League Club of New York has built, over ensuing years, a record of distinguished service to our country. Members of The Union League Club were instrumental in establishing The Metropolitan Museum of Art in 1870 as well as the Sanitary Commission, a predecessor organization to the American Red Cross. It helped erect the Statue of Liberty in New York Harbor and the Lincoln Monument in Union Square. Its members were instrumental in bringing down the “Boss” Tweed ring and in raising funds to outfit American soldiers in several conflicts. Many prominent civic, state and national leaders have enjoyed the fellowship of the ULC. Theodore Roosevelt managed his early political career from the Club’s chambers. J. Pierpont Morgan was a regular, along with John Jay, William Cullen Bryant, Chester A. Arthur, and Thomas Nast. Fifteen Presidents, seven Senators, many Congressmen, diplomats, cabinet members, and scores of CEOs of major corporations have been members of the Club during the past hundred and fifty years and have participated in its programs.
A Letter from the ceo I would like to welcome everyone to the Financial Capital of the World‌New York City! It is a great sight to see so many invested in strengthening the self storage industry together at the beginning of a New Year. We have officially begun another year of striving for the New York self storage industry as a team. I am excited to explore how certain predictions made at last year’s Investment Forum have panned out. I would like to thank all of our sponsors for their generosity. It is only with your constant support for the Association that we are able to continue to put on great events. Your New York Self Storage is honored to host this event in conjunction with the Self Storage Association and its President and CEO, Timothy Dietz. A successful and growing partnership with the national Self Storage Association is just another benefit of being a member with us. Your Association works hard to keep you abreast of issues and events that are important to our industry. The New York Self Storage Association was alive, well, and thriving in 2016, and we only predict better outcomes in 2017, thanks to the dedication of the Board of Directors and the hard work of Gotham Government Relations. I want to thank everyone for joining us at our forum today, and I wish you the best of health, happiness, and prosperity. God Bless. Sincerely,
Peter Ferraro Sr. Vice Chairman & CEO
2017 Self Storage Investment & Real Estate Forum Tuesday, January 10th, 2017 Union League Club, New York City Today will be an informative day-long event featuring interactive panel presentations. We will address the state of the self storage industry from a finance and capital markets perspective and evaluate the development and acquisition landscape in self storage globally, with a particular eye on New York.
Program 8:30am Registration 10:00 am Welcome and Opening Remarks Peter Ferraro, CEO of New York Self Storage Association 10:15 am Capital Markets Panel Introduced by Jim Davies of Talonvest Capital Moderated by Thomas Sherlock of Talonvest Capital 12:00pm Lunch 12:45pm Keynote Address Christian Sonne, Executive Vice President of CBRE 1:15pm Special Remarks Timothy Dietz, President and CEO of the Self Storage Association 1:30pm Development Panel Introduced by Anne Hawkins, Executive Vice President of STR Moderated by Nick Malagisi, National Director Self Storage for SVN Commercial Realty 2:30pm Acquisitions Panel Moderated by Nick Malagisi, SVN Commercial Realty 3:30pm Networking Reception
CONFERENCE PLATINUM SPONSOR
CONFERENCE GOLD SPONSORS
CONFERENCE SILVER SPONSORS
2017 SELF STORAGE INVESTMENT FORUM Capital Markets Panel, Introduced by Jim Davies & Moderated by Thomas Sherlock
Jim O. Davies, Principal, Talonvest Capital Inc. Jim Davies is a principal of Talonvest Capital, Inc. and is responsible for sourcing and executing self storage and commercial structured finance and permanent debt assignments for experienced storage and commercial real estate owners. Jim has developed a reputation as a leading storage finance expert over a 24 year period that includes the closing of over $4.5 billion of transactions while with Talonvest Capital, Buchanan Storage Capital and Belgravia Capital. He has a 33 year track record with experience as a direct lender, advisor and property acquisitions specialist and was a cofounding principal of Buchanan Storage Capital which became one of the most recognized brands in the self storage finance sector through representing many of the top national operators in the capital markets and through exclusive partnerships with firms such as GE Capital and the Royal Bank of Canada. Jim has arranged several billion dollars of capitalizations in all phases of the investment cycle including bridge loans, permanent loans, joint venture equity and construction financing. Jim is a frequent speaker at industry conferences, served for 7 years on the Board of Directors of the California Self Storage Association, is the founder of the popular Self Storage Owners Summit held each July in Newport Beach and served on the national Self Storage Association’s Foundation Board.
Thomas R. Sherlock, Principal, Talonvest Capital Inc. Thomas R. Sherlock is a Co-Founding Principal of Talonvest Capital, Inc. He actively works with real estate owners and developers in optimizing, structuring and negotiating the capital stack for commercial properties throughout the country. Additionally, Tom is responsible for creating, growing and managing strategic relationships with providers of equity and debt capital. Tom has been active in the real estate industry for 32 years. His experience includes joint venture equity investing, direct lending and structuring debt and equity for commercial real estate owners/developers. Previously, Tom was a Managing Partner at Buchanan Street Partners responsible for leading the firm’s Capital Advisory business. During his tenure, the firm successfully closed approximately $12 billion of debt, equity and investment sales assignments. In addition, Tom was responsible for leading the Acquisitions Team for the Buchanan Funds, which acquired over $5 billion of real estate investments. Prior to Buchanan Street Partners, Tom was a Senior Lender at Citibank in Chicago, where he was consistently ranked as one of the top three lenders by loan volume funded in the U.S.
2017 SELF STORAGE INVESTMENT FORUM Guy J. Rau, Executive Vice President & National Director, TCF Bank Mr. Rau leads TCF’s team of committed banking professionals in Corporate Banking. Corporate Banking operates in 3 specialty segments. The 3 segments are as follows: Middle Market Banking primarily in the TCF footprint states of Minnesota, Michigan, Wisconsin, Illinois and Colorado; Healthcare Banking primarily in the Midwest; and Self Storage Banking, a national business targeting storage professionals. TCF successfully operates in each of these specialized industry segments. Mr. Rau joined TCF in 2006 and has more than 26 years of banking experience. He is a graduate of the University of Michigan. He is a member of the Board of Directors of The Kids In Need Foundation, a national non-profit providing school supplies to children in impoverished areas.
Brad Wilmot, Regional Director, Goldman Sachs Real Estate Financing Group Mr. Wilmot is regional director of the Goldman Sachs Real Estate Financing Group, based in the Los Angeles office. Previously, he was Head of West Coast Originations for Wells Fargo’s Real Estate Capital Markets Group since 2012. Prior to Wells Fargo, Brad was a principal at Peregrine Realty Partners where he was one of three founding partners focused on the investment of commercial real estate assets and providing advisory services for middle market and institutional clients. Before Peregrine, Brad spent eight years at JPMorgan in the CMBS group where he led the firm’s origination efforts on the West Coast.
Brian J. Pieracci, Executive Vice President/Co-Head, North American Private Equity Acquisitions, Heitman Brian is a partner at Heitman and co-leads the North American private equity real estate acquisitions team. He has been involved in over $6 billion of transactions across the country with respect to a variety of property types including office, industrial, medical office and self-storage properties and a variety of investment structures (e.g. development joint ventures, investment joint ventures, mezzanine financing and 100% free and clear acquisitions). Heitman currently owns over $1 billion of storage assets globally through a variety of joint venture relationships with self storage operators around the world. Brian graduated from Indiana University’s Kelly School of Business with degrees in Finance and Real Estate. Brian has been at Heitman for 19 years and is a member of the firm’s management committee.
2017 SELF STORAGE INVESTMENT FORUM
Keynote Address, Christian Sonne Executive Vice President, Head of Self Storage Valuation Group in U.S. Mr. Sonne is an industry leader with more than three decades of experience in real estate appraisal and consulting, including specialized expertise in self storage. In his role as Executive Vice President, Mr. Sonne oversees CBRE’s self storage business within its U.S. Valuation & Advisory Services group. Prior to joining CBRE, he served as executive managing director of the Self Storage Industry Group at Cushman & Wakefield. Previously, he founded and served as President of The Sonne Group, Inc., a full service real estate appraisal and consulting company. Earlier in his career, Mr. Sonne was a senior consultant in the Valuation Group at Deloitte & Touche and a Senior Appraisal Officer in Bank of America’s Commercial Appraisal Group in Los Angeles. A frequent speaker at self storage industry events, he is the author of “Self Storage Economics and Appraisal”, which was published by The Appraisal Institute in 2012. He received a BS from the University of Utah, is a Counselor of Real Estate (CRE), is a Member of the Appraisal Institute (MAI), a Fellow of the Royal Institution of Chartered Surveyors (FRICS), and is a Certified General Real Estate Appraiser in the state of California.
Special Presentation, Timothy J. Dietz President & CEO, Self Storage Association Tim Dietz has been the President & Chief Executive Officer for the national Self Storage Association since 2015. Prior to overseeing the association, he spent 11 years as the organization’s Chief Operating Officer and Sr. VP of Government Relations. Dietz has supervised the passage of more than 100 industry provisions to help improve the regulations that govern the lien process, insurance programs and other laws that influence the self storage sector. He has also helped the industry avoid sales taxes and other threats. Dietz previously lobbied in the environmental remediation and telecommunications sectors. He earned his Certified Association Executive (CAE) accreditation through the Center for Association Leadership in 2011.
2017 SELF STORAGE INVESTMENT FORUM Development Panel, Introducted by Anne Hawkkins & Moderated by Nicholas Malagisi
Nicholas Malagisi, National Director for Self Storage of Sperry Van Ness Commercial Realty Nick Malagisi, SIOR, serves as National Director of self storage and Senior Advisor for Sperry Van Ness Commercial Realty, specializing in the purchase and disposition of self storage properties, primarily in the Northeast United States & Province of Ontario, Canada. Malagisi began his self storage career with industry leader, Public Storage, where he was responsible for site acquisition & development of new properties as well as acquisition of existing storage properties. Malagisi has participated in the disposition of hundreds of properties from single assets to portfolio sales. He, also, works as a Consultant in preparing feasibility studies for new developments, testifying in court as an expert witness for condemnation cases, and consults on Joint Venture opportunities . Malagisi is a 30+ year veteran of the self storage industry and the SSA, a board member of the NY Self Storage Ass., and a member of SIOR. Malagisi is a graduate of the Martin Whitman School of Business at Syracuse University, a veteran of the US Army & a tour of duty in S. Vietnam and resides in the Buffalo, NY area with his family.
Stanely Bonilla, Senior Vice President of Development, Safeguard It Stan Bonilla, Safeguard’s Senior Vice President of Development, is responsible for the implementation of the company’s present and future development. Stan identifies markets for new development, manages site selection, approvals and the overall development process. Stan has over 20 years of commercial real estate experience. Beginning in 1994, he started in by working with New York City’s industrial community expand and grow by pairing growing businesses with available public economic development programs and real estate opportunities. By 1999, Stan transitioned to self-storage development. Over this time Stan has garnered significant experience in finance, site selection, development, property management and corporate real estate management. A graduate of the State University of New York at Oneonta, Stan holds a Bachelor of Science Degree in Geography and has studied Urban Planning at Hunter College’s Urban Planning Master’s program.
2017 SELF STORAGE INVESTMENT FORUM
Gary Delaney Gary Delaney has extensive experience in real estate development, corporate real estate and facilities management and construction with the past 19 years nearly exclusively in self-storage. Gary began his career in corporate real estate and facilities management with NCR, Texas Instruments and NEC before returning to the Midwest to work with two of his brothers developing several single family home subdivisions and build homes in those subdivisions. Gary’s entry into the self-storage arena was as the Regional Development Manager for Shurgard in Chicago before heading to Safeguard to help establish their development team. In 2013 Gary along with John Nikolich founded Banner Storage Group which now has nearly thirty ground up and conversion self-storage projects in its pipeline.
Frank G. Relf, President, Frank G. Relf Architect, P.C. President and Owner in Business for over 30 Years providing professional architectural and engineering services to the self storage industry for site acquisitions and planning, unit mix analysis, zoning and municipal approvals, construction documents, bidding and construction management. Projects include new construction, conversions, remodels, expansions and specialty storage designs. He is a licensed architect in multiple states, a long time member of Inside Self Storage, New York Self Storage Association and Self Storage Association, has lectured on building codes affecting self storage,
Self Storage Association in Real Estate and Finance Summit in March 2013, Self Storage Association Spring Conference and Trade Show in March 2014 (Speaker for Existing Building Renovations/Additions and New Construction), Inside Self Storage Developers Conference, New York City in June 2014 (Speaker for New Construction) and in January 2015 and 2016 at New York Self Storage Association Self Storage Investment Forum (Guest Speaker).
2017 SELF STORAGE INVESTMENT FORUM Acquisitions Panel, Moderated by Nicholas Malagisi
Jonathan Perry, Senior Vice President, Investments, CubeSmart Jonathan Perry joined CubeSmart in 2008 and is responsible for executing the Company’s external growth initiatives – acquisitions, development and thirdparty management. Since joining the company, he has been the lead on nearly $3.0B in self-storage transactions. Previously, Jonathan served as Vice President, Asset Management. Prior to joining CubeSmart, Mr. Perry served as a partner and Senior Vice President of Jernigan Property Group, LLC a Memphis based company that acquired, operated and disposed of self-storage facilities across the United States. From 1998 to April 2004 he worked in various finance and real estate related roles at Storage USA (NYSE: SUS) and its successor GE Capital Real Estate.
Gary Sugarman, Principal & Chief Operating Officer, The William Warren Group As a Principal & COO of The William Warren Group, Gary is responsible for strategic business planning for the company’s development, acquisition and third-party management platform, its proprietary StorQuest Self Storage brand, as well as the operations of the company. Prior to joining The William Warren Group, Gary served as COO of Edison Properties, where he maintained full P&L responsibility for all business units of Edison’s $4 billion real-estate portfolio, including direct accountability for all aspects of operating the notable Manhattan Mini Storage portfolio. Gary spent 20 years operating several national retail chains, in venture capital, and practicing as a Wall Street corporate finance attorney. Gary has served as Chairman of the New York Self Storage Association, as Board Member of the national Self Storage Association Large Operators Council, and a Member of CubeSmart’s Board of Strategic Advisors. Gary is a graduate of The University of Michigan and Harvard Law School.
2017 SELF STORAGE INVESTMENT FORUM
Todd Amsdell, President and CEO, Amsdell Companies Todd C. Amsdell has over 25 years of experience in the self-storage industry, across the United States, within both the private and public company environments. He currently serves as President and CEO of the Amsdell group of companies, and is responsible for overseeing the executive management operations of all of self-storage, office and industrial real estate properties across the country. Furthermore, Mr. Amsdell served as Chief Operating Officer (“COO”) of U-Store-It Trust (now Cubesmart Trust) from its initial public offering in October 2004 until February 2007, and was directly responsible for the property management operations of over 400+ U-Store-It’s facilities across the country. Prior to becoming COO of U-Store-It Trust, Mr. Amsdell served as President of U-Store-It Mini-Warehouse Co., and was directly responsible for the property management operations of over 174 self-storage properties across the country owned by various Amsdell entities (which properties later became a part of U-Store-It Trust). Furthermore, Mr. Amsdell has also served on the Board of Directors of the SelfStorage Association Foundation and the Diamond Storage Alliance, a network of self-storage operators designed to market self-storage to national commercial customers.
Wayne Johnson, Chief Investment Officer, Strategic Asset Management Inc. Mr. Johnson has been the Chief Investment Officer for Strategic Asset Management, Inc. since June 2015. Prior to that, he served as Chief Investment Officer of SmartStop Self Storage until the merger with Extra Space on October 1, 2015. Mr. Johnson also served as Senior VP and CIO for Strategic Capital Holdings, LLC beginning in June 2006. Prior to joining SCH, Mr. Johnson was involved in various aspects of commercial development and leasing, including office, warehouse, retail and self storage facilities in the DFW area. Mr. Johnson served on the board and past President of the Texas Self Storage Association (TSSA). Mr. Johnson entered the commercial real estate business in 1979 after graduating from Southern Methodist University – Dallas with a B.B.A. in Finance and Real Estate.
CONFERENCE BRONZE SPONSORS
GOTHAM Government Relations Update We want to congratulate the New York Self Storage Association on another sold-out event! It has been a thrill for our firm, Gotham Government Relations & Communications, to serve as the management team for the New York Self Storage Association during such as successful time. This time last year, we were on the cusp on beginning the Association’s management and slowly affiliating ourselves with the Board of Directors. Since then, we’ve hit the ground running in reorganizing the Association and putting a winning game plan in action. In one year, we’ve reached out to each of the members with individual calls, visited storage facilities, launched a newly designed website featuring members, updated the quarterly newsletter, and organized the Association’s most successful Annual Fall Conference. Our plan is to continue to provide all of our members with insight into all of the key self-storage issues, legislation, and representation that they need. In 2017, we are will continue to commit to excellence and working together to face challenges ahead as a strong and unified coalition. Thank you for all your support, and the best is yet to come! Sincerely,
David Schwartz
NOTES:
Benefits of Joining the New York Self Storage Association The New York Self Storage Association is comprised of owners whose facilities range from 5,000 sq. ft. and 40 rental units to multiple facility owners with thousands of rental spaces. Members from Montauk to Niagara and from Pennsylvania to the Canadian borders are active in NYSSA. The purpose of the Association is to provide a powerful network of information and a wealth of experience to those who are in or wish to enter the self-storage industry. As a member, you benefit from the advice and experience of industry insiders and other self-storage operators throughout New York State. Membership includes: CD with Recommended Procedures: Auction Procedures Decedents Estates Auction of Titled Vehicles Interacting with Law Enforcement Know Your Customer New Owner/Operator Support Business & Networking Seminars Legislative Alerts Listing on NYSSA Website Free Quarterly Newsletter Free electronic subscription to Mini Storage Messenger
Not a member yet? Email us at admin@nyselfstorage.org