Latest news with #MichaelSchwartz
Yahoo
23-06-2025
- Business
- Yahoo
Strategic Storage Growth Trust III, Inc. Completes New Acquisition in Houston Market
LADERA RANCH, Calif., June 23, 2025--(BUSINESS WIRE)--Strategic Storage Growth Trust III, Inc. ("SSGT III"), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. ("SmartStop"), is pleased to announce the acquisition of a Class A self-storage facility in Houston, Texas. Located at 3130 Southwest Freeway, the newly acquired facility offers approximately 98,875 net rentable square feet in a 10-story building. This upscale facility features approximately 789 interior, climate-controlled units, 16 lockers, and 72 dedicated wine storage vaults. Positioned in an upscale area just 3.5 miles southwest of downtown Houston, it boasts prominent visibility along the U.S. 69 highway, which experiences approximately 236,461 vehicles daily. The area within a three-mile radius boasts substantial household incomes and anticipates population growth of 8.2% over the next five years. This facility will serve the neighborhoods of Montrose, Upper Kirby, Midtown, Museum District, West University Place, and Greenway/Upper Greenway. "This acquisition marks a strategic step forward in expanding our footprint into one of the nation's most dynamic and growing metropolitan areas," said H. Michael Schwartz, CEO of SSGT III. "This Class A facility enhances our portfolio with its prime location, modern features, and specialized offerings. We are confident it will meet the evolving needs of residents and businesses in the area while creating long-term value for our investors." About Strategic Storage Growth Trust III, Inc. (SSGT III): SSGT III is a Maryland corporation that elected to qualify as a REIT for federal income tax purposes. SSGT III's primary investment strategy is to invest in growth-oriented self-storage facilities and related self-storage real estate investments in the United States and Canada. As of June 23, 2025, SSGT III has a portfolio of thirteen operating properties in the United States, comprising approximately 10,420 units and 1,229,675 net rentable square feet; four operating properties in Canada, comprising approximately 2,380 units and 272,800 net rentable square feet; and joint venture interests in three developments in two Canadian provinces (Québec and British Columbia). In addition, a subsidiary of SSGT III serves as the sponsor of a Delaware Statutory Trust, which currently owns two operating properties in the United States comprising approximately 1,040 units and 123,000 net rentable square feet. About SmartStop Self Storage REIT, Inc. (SmartStop): SmartStop Self Storage REIT, Inc. ("SmartStop") (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of more than 600 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 23, 2025, SmartStop has an owned or managed portfolio of 228 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 163,500 units and 18.4 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet. Additional information regarding SmartStop is available at View source version on Contacts David Corak Senior VP of Corporate Finance & StrategySmartStop Self Storage REIT, Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
10-06-2025
- Business
- Reuters
In Germany, retiring company owners struggle to find successors
BERLIN, June 10 (Reuters) - Rudolf Kiessling would like to retire after years spent building his heating, ventilation, and air conditioning business. But he faces a challenge common to many German company bosses: finding someone to take over. The 62-year-old is among thousands of owners of small and medium-sized enterprises (SMEs) - some 99% of German firms, known collectively as the Mittelstand - who may have to wind up their businesses if they cannot find a successor. The issue is a growing risk to Europe's largest economy, already suffering its longest downturn since World War Two. "I have no one. I have a son, but he can't do it because he has done something completely different professionally," Kiessling told Reuters. "Some employees may have interest, but they are a bit afraid of the responsibility." A survey by state-run development bank KfW showed around 231,000 SME owners planning to close their companies by the end of this year - 67,500 more than a year ago. Age is a major factor: demographic data show more than half of Mittelstand owners are over 55 years old, up from 20% 10 years ago. And they are ageing faster than the population as a whole - 39% of them are 60 or older, compared with 30% of Germans overall. "Never since we began to monitor business successions have so many small and medium-sized enterprises considered giving up their operations," said KfW's Mittelstand expert Michael Schwartz. SMEs account for more than half of Germany's economic output and almost 60% of jobs, and are an engine of private investment. The succession problem "not only threatens jobs but also weakens Germany's economic position overall," Marc S. Tenbieg, head of the DMB Mittelstand association, told Reuters. Although the new government wants to boost investment with an infrastructure fund, corporate tax cuts and advantageous depreciation options, businesses may be reluctant to commit without clarity about their future leadership. Carsten Brzeski, global head of macro at ING, cited studies showing under-investment of 400 to 600 million euros ($457-686 million) in Germany over the last decade. "Investments are held back as business owners cannot find adequate succession planning," Brzeski said. Before February's election, the Commission for Business Succession of another Mittelstand association, BVMW, made recommendations to address the problem, including tax incentives for business transfers and ways to improve financing conditions. "The new government plans very little on this issue according to the coalition agreement, where the term 'business succession' does not appear at all," said Benno Packi, chairman of the commission. A economy ministry spokesperson said the government has been supporting business successions with numerous measures, such as a free website to match owners with potential buyers, and loan offers with reduced interest rates. A smaller pool of internal candidates can make it hard to find talent, especially if larger companies offer more competitive packages, said Oliver Stettes, head of labour economics at the IW economic institute. Germany already has an acute shortage of skilled workers. But the succession squeeze also has an impact on bigger firms, nearly all of which have small companies as suppliers that would be hard to replace. Candidate scarcity can make what is often an emotional transition more challenging, said Holger Wassermann, an expert in company successions. "Psychology makes up at least two-thirds of the considerations in Mittelstand business sales," Wassermann said. "For many entrepreneurs, their company feels like a body part - selling it can feel like losing an arm." The average age of those handing over increased to 63 years from 61.5 years last year, while the age of those taking charge was static at 38 years, according to a Successions Monitor in which Wassermann participates. Marcel Krieb is an outlier. At just 25, he became managing director of pretium associates, a financial consultancy for SMEs established in 2003, after working on a project with its founder. "He asked me at the right time if I could somehow succeed him in his company," Krieb told Reuters. "Many young people prefer the security of a steady paycheck and predictable future, rather than the uncertainty that comes with being self-employed." Many Mittelstand companies are family-owned but nowadays fewer sons and daughters are prepared to take over. A survey by the Ifo Institute found 42% do not have a family member lined up to succeed. Jacob von der Decken was 30 and his father 68 when Jacob took over the family's agricultural business in northern Germany last year, having discussed it periodically since he was 14. "It's a lot of responsibility going on your shoulders," said von der Decken, who studied agricultural economics and had been working on renewable energy projects at a fintech company. "In agriculture, your family lends you the farm for one generation, and then you pass it on to the next generation. You have like 30 years of bringing it forward and making sure that it also lasts the next decades." While his father's generation prioritised efficiency, he is focusing on diversification and leveraging AI for data collection through a startup, Tunen Agronomy. Private equity takeovers, often mooted as a solution, are really only an option for larger Mittelstand firms, said Michael Wolff, an M&A expert at investment bank Stifel who specializes in transactions for companies valued at 100-500 million euros. "For the craftsman with 10 people or 20 workers ... So far there hasn't been a solution that systematically helps these people," Wolff said. And the Mittelstand's problems ripple widely. "With each small piece that breaks away, the foundation of the German economy becomes a bit more fragile," said pretium's Krieb. ($1 = 0.8877 euros)
Business Wire
03-06-2025
- Business
- Business Wire
Strategic Storage Trust VI, Inc. Announces Opening of New Self-Storage Facility in Toronto, Ontario
LADERA RANCH, Calif.--(BUSINESS WIRE)-- Strategic Storage Trust VI, Inc. ('SST VI '), a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA), in partnership with SmartCentres (TSX: is proud to announce the opening of its 14 th facility in Canada and its 12 th in the Greater Toronto Area, located at 1480 Jane Street in Toronto. This six-story, climate-controlled facility spans approximately 105,000 net rentable square feet and includes more than 1,200 climate-controlled storage units. Strategically positioned on a 2.67-acre site, the property offers strong visibility along Jane Street, which averages more than 40,000 vehicles daily. The location is equipped with two elevators and sits south of a recently opened FreshCo grocery store and within the heart of Toronto's Mount Dennis, Brookhaven and Weston neighborhoods. The new facility is well positioned to serve a densely populated and growing urban area. Within a three-mile radius, demand for convenient, secure storage is rising – driven in part by development plans that call for 2,000 new residential units within five miles of the site. SmartStop's newest location will serve the surrounding communities of Maple Leaf, Rockcliffe–Smythe, Richview, Brookhaven–Amesbury, Beechborough–Greenbrook, Glen Park, York and Humber Heights–Westmount. 'Toronto continues to be a key market for us, and this new Jane Street facility strengthens our presence in one of its fastest-growing areas,' said H. Michael Schwartz, Chairman and CEO of SST VI. 'We're committed to meeting the needs of the surrounding communities with secure, high-quality storage, and this location is a great example of how we're delivering on that promise.' About Strategic Storage Trust VI, Inc. (SST VI): SST VI is a Maryland corporation that was elected to qualify as a REIT for federal income tax purposes. SST VI's primary investment strategy is to invest in income-producing and growth self-storage facilities and related self-storage real estate investments in the United States and Canada. As of June 3, 2025, SST VI has a portfolio of 13 operating properties in the United States comprising approximately 9,015 units and 1,079,395 rentable square feet (including parking); 11 properties with approximately 10,205 units and 1,067,715 rentable square feet (including parking) in Canada, joint venture interests in four operational and one development property in two Canadian provinces (Ontario and Québec) and one wholly owned development property in Ontario. About SmartStop Self Storage REIT, Inc. (SmartStop): SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of approximately 600 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 3, 2025, SmartStop has an owned or managed portfolio of 222 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 158,900 units and 17.9 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet. Additional information regarding SmartStop is available at
Geek Vibes Nation
03-06-2025
- Business
- Geek Vibes Nation
GVN Talking Comics: Michael Schwartz On Armored Deluxe Edition From Clover Press (Now on Kickstarter)
In August 2023, we had the chance to speak with writer Michael Schwartz about his debut issue of Clover Press's Armored and its initial Kickstarter campaign. Now, Michael and artist Ismael Hernandez are launching the complete first volume of Armored on Kickstarter, paving the way for future expansions of the story. It feels appropriate to reconnect with Michael to see how the project has evolved since our last discussion. So, let's welcome back the talented Michael Schwartz to GVN Talking Comics. The Learning Curve GVN: Welcome back, Michael. We last spoke about your book, Armored , back in August of 2023. This was in advance of your FIRST Kickstarter campaign. So, with that experience in mind, what did you learn during that initial stage of development that you feel benefited you as you worked on the following issues? MICHAEL: Thanks for having me back! It's hard to believe our first Kickstarter was nearly 2 years ago. I had the first and second arcs of Armored mapped out back then, but the space between the campaigns gave me the opportunity to further develop the next story arc. There were a few elements I wasn't entirely sure about, and seeing how readers reacted to issues 1–5 allowed me to reshape parts of the story in ways I hadn't originally planned. A Great Team GVN: In our first interview, you discussed the similarities and differences between your work in television and screenplays and creating your comic Armored series. As you continued the Armored story, did your workflow diverge even more from your film writing format, or did they move closer together? MICHAEL: I'm incredibly fortunate to be surrounded by such a talented group of collaborators, including my editor Chris Stevens and illustrator Ismael Hernández. Thankfully, Chris established a solid workflow for our team early on and we've pretty much stuck to that, even into the second arc. On the writing side, I've loosened up quite a bit with my details when writing descriptions of every page in each issue. It's still not quite like writing a screenplay, which is actually quite sparse, but I'm definitely looking for more input from Ismael as we move forward together telling this story. The Pressure of Past Success GVN: In time, Armored began to gather steam and was embraced by both fans and critics, selling out multiple issues. Did you anticipate that kind of broad-based support, and how much pressure did it put on you for the next installments? MICHAEL: Honestly, I didn't know what to expect, since I've always been on the other side of the comic industry – as a fan. I'm so grateful the story has resonated with readers because that word of mouth is so important for an independent book. Without it, I'm not sure some of the issues would have sold out. Now that there is a small but growing fanbase, I definitely feel the pressure to deliver with the second arc, but also so excited to finally get to this point in the Armored story. The Premise of 'Armored' GVN: For those not familiar with the premise of Armored , can you share the premise of your book? MICHAEL: Armored follows the story of a 13-year-old named Andy, whose parents vanished two years ago. After months of bouncing around foster homes, he's adopted by a strange couple whose son, Myles, died under mysterious circumstances. An amateur sleuth at heart, Andy decides to investigate Myles's death, which leads him to a set of old castle ruins. While there, he falls into a medieval tomb and discovers a magical suit of armor being haunted by the original wearer from hundreds of years ago, a ghostly knight, Sir William. With Sir William as his mentor, Andy must learn to harness the armor's powers and uncover the truth behind Myles's death! The Deluxe Hardcover Edition GVN: In our first chat, you mentioned that you hoped we could discuss the second arc in the future. Now, nine months later, we're back talking about Armored and a new Kickstarter campaign for a deluxe hardcover edition. Can you explain how this exciting project came about? Additionally, do you feel more confident about the crowdfunding aspect this time, given your experience from the first campaign? MICHAEL: With the success of the single issues released by Clover Press, it was the natural next step to collect them all in a hardcover edition packed with extra content. These days, many comic readers prefer to wait for collected editions, so I'm excited by the prospect of new readers. As for Kickstarter, I don't know if I'll ever feel confident going into a crowdfunding campaign. It's always tough to predict what will resonate with comic collectors. That said, I'm genuinely excited because not only are we offering the collected edition, but we're also including issue 6, which is completely new material, the first part of the second arc. New Campaign, New Extras GVN: This new campaign offers some great extras, including: An exclusive dust jacket featuring the stunning Armored artwork by David Mack, a collectible trading card set, and art prints by Jae Lee, David Mack, and Francesco Tomaselli. In addition to an exclusive Preview Comic (Issue 6) for the next story arc, with a cover by Jeff Dickson. How much input do you have when deciding on these great benefits, or does Clover Press make those calls? MICHAEL: Clover Press and I collaborate closely when deciding what kind of extras to include in the Kickstarter. We both bring ideas to the table, but Clover makes the ultimate decision. They've run so many successful Kickstarter campaigns that I really trust their judgement when it comes to tiers and rewards. Next Projects GVN: Thank you for visiting again, Michael. Before we finish, I would like to allow you to share any upcoming projects you have. Also, feel free to promote the exciting new hardcover edition of Armored , which features art by Ismael Hernandez and is edited by Eisner Award-winner Chris Stevens. MICHAEL: Thank you so much for taking the time to talk with me. I can't wait for readers to get their hands on this edition. I know they won't be disappointed with all the bonus content we have planned. Comic fans can also look forward to my next book with Clover Press, Till Death , co-written by Rachael Schaefer and illustrated by Gaia Cardinali. Rachael and I worked with Eisner-winning editor Chris Stevens on the project, and we're excited to share more about it very soon. Clover Press Armored , the deluxe hardcover edition by Michael Schwartz, Ismael Hernández, and Ferran Delgado, is now on Kickstarter. You can check out their campaign here.
Business Wire
02-06-2025
- Business
- Business Wire
SmartStop Enters Montréal Market With First Facility in Québec
LADERA RANCH, Calif.--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, has officially entered the Montréal market with the opening of a new, state-of-the-art facility in Dorval, Québec. This marks SmartStop's first location in the province and a bold next step in the company's Canadian expansion. SmartStop will oversee operations at the newly constructed facility, developed by one of its managed REITs, Strategic Storage Trust VI, Inc. ('SST VI'), in partnership with SmartCentres Real Estate Investment Trust (TSX: Located at 2990 Sunnybrooke Boulevard, the facility brings nearly 112,000 net rentable square feet and 1,250 climate-controlled units at a high-visibility site that sees more than 120,000 vehicles daily along the Trans-Canada Highway. With six stories, three elevators, and modern amenities, the facility is designed to offer top-tier convenience, access, and service. 'This opening is a major milestone for SmartStop,' said H. Michael Schwartz, Chairman and CEO of SmartStop. 'Not only is it our first step into Québec, but it also cements our position as the leading self-storage operator expanding coast-to-coast in Canada. We're proud to bring our premium brand, operational excellence, and customer-first approach to Montréal – and this is just the beginning.' 'SmartCentres is proud to partner with SmartStop in Quebec, where we have operated our shopping centres across the Province since 1995. SmartCentres and SmartStop share a focus on the needs of all Canadians. By expanding our offering to now include SmartStop Self Storage, we proudly deepen our investment in a Province synonymous with our story,' stated Mitchell Goldhar, Founder, Executive Chair and CEO for SmartCentres REIT. SmartStop is already the largest self-storage operator in the Greater Toronto Area. With the addition of the Dorval location, the company continues to build a strong national presence backed by a reputation for innovation, consistency, and leadership in the storage industry. About SmartStop Self Storage REIT, Inc. (SmartStop): SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of approximately 590 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 2, 2025, SmartStop has an owned or managed portfolio of 222 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 158,900 units and 17.9 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet. Additional information regarding SmartStop is available at
