August 4, 2016
Colorado-based National Storage Affiliates acquired a portfolio of 22 self-storage properties in California for an undisclosed price. The transaction, which is one of the largest of its kind in Southern California, involves a 1.6-million-square-foot portfolio that is roughly 92% occupied.
The Extra Space Storage-managed portfolio’s Southern California properties are located in Anaheim, Riverside, Apple Valley, South Gate, Harbor City, Grand Terrace, Palmdale, Victorville, Rosamond and San Diego, as well as facilities in Bakersfield and Fresno.
CBRE Group, Inc.’s Nicholas Walker represented the seller, CPA®: 17-Global, a non- traded REIT affiliated with W.P. Carey, as well as the buyer.
Walker says the acquisition allows NSA REIT “to enter into some new markets with a strong footprint, and also allows them to further expand their market share in their existing areas.”
For comments, questions or concerns, please contact Dennis Kaiser