I haven't had more than about 10 minutes to process this so I don't have a ton to say, but... Am I the only person who didn't know that most self storage facilities in the us are actually just giant real estate investment trusts? I have had a long-running joke with my brother (we come from a long line of hoarders) about quitting our jobs to open up a self-storage facility.
Aside from shattering all my dreams, I'm disappointed that using a REIT to finance this sort of endeavor had never even crossed my mind. I mean, it makes total sense. The capital structure a REIT provides (readily accessible, dirt-cheap debt) gives them one hell of a competitive advantage over any sort of mom-n-pop organization. Sorry, bro.