June 29, 2016
National Storage Affiliates Trust of Greenwood Village, CO, has entered into contracts to acquire 29 self-storage properties located in six states. The portfolio totals approximately 2.1 million square feet, across 18,000 units, for a total of $190 million.
The REIT expects that 28 of the assets will be acquired through off-market, third-party transactions, with one property purchased from a participating regional operator. The deal is expected to close during the third quarter of 2016.
In 2016 so far, National Storage will have completed, or have under contract, $390 million of acquisitions, representing 54 properties and 36,500 units. “These new acquisitions reflect our continued focus on increasing ownership in existing markets to leverage our PRO operating platform and build further scale in markets where we have local expertise,” said CEO Arlen Nordhagen.