Sovran Self Storage Inc., a Buffalo, New York-based real estate investment trust focused on the self-storage industry in May agreed to acquire Roseville, California-based LifeStorage LP, which owns 17 self-storage centers in Las Vegas and dozens more across the country.
The $1.3 billion deal adds 84 self-storage facilities to Sovran’s more than 500 existing facilities, across 26 states, that it owns and/or operates under the trade name Uncle Bob’s Self Storage.
The deal is expected to close in the third quarter.
Three additional locations are under a purchase contract in a set of certificate of occupancy deals to be delivered between late 2016 to early 2017.
LifeStorage operates 92 self-storage sites in nine states.
In a recent statement, Sovran stated it planned to finance the transaction through equity and debt offerings.
Air conditioning company headed back to Las Vegas
An Arizona-based air conditioning company with locations in Phoenix and Tucson is headed back to the Las Vegas Valley after nearly a decadelong absence. An acquisition of another company made it so.
Goettl Air Conditioning of Arizona recently purchased Las Vegas-based Moore Air Conditioning and Heating, a longtime commercial and residential heating and cooling services company serving Las Vegas.
“This acquisition continues to enable Goettl’s commitment to provide our customers the best technicians in the industry,” Goettl Air Conditioning CEO Ken Goodrich said. “The addition of Moore’s team of highly experienced climate control specialists enhances Goettl’s ability to continue to grow and provide the highest quality air conditioning services to the Las Vegas Valley”
Goettl opened for business in 1939 and staged its initial presence in Las Vegas in 1968.
The recession forced the group to pull out in 2007. Following an acquisition in 2013 by Goodrich, a native Las Vegan, the company returned to operation in the city in April.
Goettl plans to expand the organization by 50 percent in Las Vegas in 2017, and add more than 100 employees over the next 12 months, a recent statement said.
Goettl also plans to source new technicians from the College of Southern Nevada’s Air Conditioning Technology Program, where Goodrich created an endowment to form the J. Duncan Goodrich Air Conditioning Technology Program to honor his father.
LV Latin Chamber of Commerce
backs coalition
Las Vegas Latin Chamber of Commerce recently released a statement offering its support of Citizens for Solar and Energy Fairness, a coalition seeking to keep the new net metering rates set in place by state regulators at the beginning of 2016.
The chamber said the move will help promote affordable energy for the state, including Hispanic-owned businesses.
“We have long supported the development of solar and other renewable resources in Nevada,” Las Vegas Latin Chamber of Commerce Chairwoman Maggie Arias-Petrel said in the statement. “However, we have a responsibility to protect our local businesses against unfair practices that could have a negative impact to the cost of doing business.”
This also includes protection against paying higher energy costs to subsidize rooftop solar that many chamber members don’t have, Arias-Petrel said.
The coalition is being backed by organizations such as NV Energy.
On the opposition side, large solar installers including SolarCity are backing a potential ballot referendum to ask Nevada voters during this election cycle to restore the previous net metering rates.
SolarCity has contributed more than $2 million to No Solar Tax, a political action committee. The PAC is trying to collect 55,234 signatures from registered Nevada voters by June 21 to put the issue on the ballot.
The ballot referendum is being challenged in Nevada Supreme Court.
The coalition has collected over $1 million to campaign against the measure. Most of the funding has gone toward TV ads.
St. Rose Dominican program granted funding for mammograms and ultrasounds for under- and uninsured
St. Rose Dominican’s R.E.D. Rose program was recently granted $35,654 from the National Breast Cancer Foundation Inc. to help fund the program’s mammograms and ultrasounds for women who are under- and uninsured.
“Southern Nevada ranks among the highest in the nation for under- and uninsured individuals,” said Brian Brannman, senior vice president of Dignity Health Nevada. “The National Breast Cancer Foundation’s donation will be instrumental in helping us provide much-needed clinical services for this target population. On behalf of those we will be able to support, we express our sincere gratitude.”
St. Rose’s Responsible Early Detection program offers women and men who are 49 and younger and lack sufficient health care coverage, or the financial ability to obtain it, free clinical breast exams, mammograms, ultrasounds, surgical consultations and biopsies.
