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ETC... ETC... NEWS
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National Storage Affiliates Buys Portfolio of 22 Properties in California

8/03/16

National Storage Affiliates, a Colorado-based real estate investment trust, has acquired a portfolio of 22 self-storage properties, totaling 1.6 msf of space, in California. The price was not disclosed.

The Extra Space Storage-managed portfolio includes properties throughout Southern California including Anaheim, Riverside, Apple Valley, South Gate, Harbor City, Grand Terrace, Palmdale, Victorville, Rosamond and San Diego. The transaction also included seven facilities in Bakersfield and one in Fresno.

Nicholas Walker of CBRE represented the buyer and the seller, CPA®: 17-Global, a non-traded real estate investment trust (REIT), in the deal. According to Walker, the portfolio, which has a combined occupancy of about 92 percent, attracted multiple offers due to the strategic locations of the properties and the high demand for self-storage facilities, particularly in population hubs in Southern California.

“This portfolio will be a great fit for NSA REIT, allowing them to enter into some new markets with a strong footprint and also allow them to further expand their market share in their existing areas,” Walker said.





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