September 14, 2016
National Storage Affiliates Trust has joined forces with a Heitman Capital-advised state pension fund to acquire the iStorage portfolio of properties. The Greenwood Village, CO-based NSA will pay $630 million for the 66-asset portfolio, which totals approximately 4.5 million square feet across 12 states.
NSA has also agreed to acquire iStorage’s property management platform, which includes a property management company, an insurance company and the iStorage brand. The transaction is scheduled to close by the end of the year.
NSA operates under brand names including Guardian Storage, Hide-Away, Move Int Self Storage, Northwest Self Storage and Storage Solutions.
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