Jun
30
NSA Trust to Buy 29-Property Self-Storage Portfolio
ByThe Colorado-based REIT is shelling out $190 million to acquire roughly 2.1 million square feet of self-storage space across the U.S.
National Storage Affiliates Trust headquarters, Greenwood Village, Colo.
Denver—National Storage Affiliates Trust has agreed to acquire 29 self-storage properties across six states, totaling about 2.1 million rentable square feet and about 18,000 storage units, for a total price of about $190 million, the REIT announced Tuesday. The largest part of the acquisition is a 22-property portfolio in California, for which NSA will pay about $154 million.
Almost all of the properties will be acquired in third-party transactions, and the vast majority of the funding, about $187 million, will be in cash. The acquisitions are expected to close in the third quarter…
