Certificate-Of-Occupancy Deals Putting Development Back In Play For REITs

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Following several years of stagnant development, new self-storage facilities are on drawing boards from coast to coast. Some are getting a head start by undertaking new projects that eventually will be taken over by real estate investment trusts (REITs). These certificate-of-occupancy deals, also referred to as merchant building, represent a way for REITs to refresh their portfolios with new properties while giving developers or builders an exit mechanism.