SkyView Advisors (formerly BayView Advisors) may appear to be the new kid on the block in the self-storage arena, however, further inspection reveals a depth of industry experience and expertise that rivals other top brokerage firms.
The SkyView team has extensive self-storage expertise and deep industry relationships with a broad track record, having completed more than $1.2 billion in transactions throughout their careers. In fact, since organizing in 2014, SkyView Advisors has broken price records in several markets.
“We’re confident our track record speaks for itself if you stack us up head-to-head against any competitors in terms of volume of our recent closings, as well as our current transactions under contract,” says Jay Crotty, SkyView’s Managing Partner. “We’ve raised the bar in some markets with pricing.”
With strategic offices in Tampa, Cleveland, and Milwaukee, SkyView is a national investment sales, financing, and advisory firm focused exclusively on the self-storage market. SkyView clients benefit from the specialization and commitment of a boutique firm, but with the capacity and scope of a national platform.
“As the industry continues to mature and consolidate, and as new capital comes into this asset class, we identified the need for high-quality, professional advisory services,” Crotty says.
Crotty specialized in apartment sales with Marcus & Millichap before his “love affair” with self-storage began. The industry veteran now provides a range of advisory services to his self-storage clients, including acquisition, disposition and recapitalization strategies, asset valuations (BOV), JV structures, and debt/equity financing strategies.
SkyView has assembled a team of self-storage professionals, each with impressive credentials in their various specialties.
Thomas Doyle is a Senior Vice President and leads the company’s Southeast Regional Office. Prior to working at BayView Advisors, Doyle was an investment sales associate specializing in self-storage. He brings industry expertise and focuses on building lasting relationships with his clients.
Ryan Clark is a Senior Vice President of the Midwest Regional Office. Clark comes from a law and entrepreneurial background, which has added a fresh perspective to the self-storage industry and helps his clients chose strategies that fit their needs, goals, and lifestyles.
Noel P. Cain is a Managing Partner of the Financing Division. Noel has been in the industry for many years and is a tremendous store of knowledge for clients. He works with clients to provide debt/equity financing and loan workout services that fit storage owners’ goals.
SkyView Advisors comprises three major divisions to accomplish storage owners’ goals:
Investment Sales—The SkyView team focuses on asset valuation and brokerage services to ensure that clients receive the maximum value and achieve the best terms for their property in any market condition. Client properties are exposed to a national and international pool of highly qualified buyers, as well as 1031 Exchange buyers.
Financing—SkyView brings cutting-edge lending and refinancing solutions to clients, offering expertise in the following areas:
* Debt Placement: Permanent, Mezzanine, Bridge, and Construction loans
* Refinance Strategies
* Recapitalization Strategies
* Equity Placement
* Financial Restructuring
Advisory Services—SkyView builds long-term relationships and advises select clients throughout the entire lifecycle of their investment: from development/acquisition and expansion/renovation, to refinance and sale.
Professional Team Commitment
SkyView’s offerings are built on a foundation consisting of robust industry data and deep industry knowledge wrapped around professional service with a personal touch. The firm’s professionals work together as a team to present a client’s property in the most favorable light.
“One of our competitive advantages is we’re a collaborative team. We’ve structured SkyView in a manner where there’s absolutely no internal competition. Each member of our team is able to focus all of their energy on the client. We are all 100 percent aligned with our clients, who have one point of contact for each key aspect of a transaction,” Crotty says.
Clients rely on the team to help them navigate challenges that may arise during the transaction and avoid pitfalls. The firm employs real-time market data to successfully close the transaction at the highest price and best terms possible.
SkyView identifies potential value-add opportunities and untapped sources of income to help an owner realize the property’s full financial potential.
Through the company’s extensive store of industry data, SkyView offers benchmark services that allow clients to compare their performance against their immediate competitors to help them achieve better profitability. “These clients may be planning a sale years down the road, but they want us to look for ways to improve their income stream now to prepare the property for a successful sale in the future,” Crotty says.
Some clients choose SkyView’s advisory services to review their properties on a quarterly or semi-annual basis. By analyzing hundreds of self-storage assets annually, the firm gains an understanding of average income and expenses in given markets. This data gives SkyView the tools to benchmark a client’s property against similar facility owners and provide a plan for generating additional income and reducing expenses.
Storage Prospects Remains Strong
Prospects for the future of self-storage remain positive, as industry fundamentals remain strong. The sector’s steady performance coming out of the Great Recession has attracted millions of investment dollars from new capital sources.
“The cat is out of the bag and lots of outside money wants in,” Crotty says. “Private equity firms, high net worth individuals, pension funds, and other investors want to benefit from storage’s returns.”
SkyView Advisors is positioned to match many of these investors with storage owners looking to sell their facilities.
Going forward, SkyView Advisors will expand as necessary to serve the growing self-storage industry. SkyView has plans to grow its nationwide market capabilities further.
The company is active in the Northeast and is planning a new office in the New York/New Jersey market. Eventually, SkyView will look to establish new offices to serve the Western United States with the same level of professionalism and expertise the company’s clients have come to expect.
What Clients Say About SkyView Advisors:
“SkyView Advisors’ process made sure that we did not leave money on the table. We had fielded direct offers in the past, but they were all much lower than the final sales price we received. Additionally, we tried to work with other brokers, but they seemed to work for the buyer, not for us. SkyView was the first brokerage that was on our side and worked with me to make sure that we got to the closing table. We are so thankful for how easy SkyView made the whole process by being thorough and keeping us constantly in the loop.”
– Sandy and Bill Cook
“SkyView Advisors is different than most brokerage firms. The whole company works as a team to ensure that the transaction goes smoothly and professionally. They were extremely helpful during the entire process making sure that all the parties were on the same page. I look forward to working with SkyView Advisors on future deals.”
– Marc Smith
Personal Mini Storage
Company: SkyView Advisors
Headquarters Tampa, Florida
Services: Self-storage investment sales, financing, and advisory services