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June 22, 2024
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Oregon Self-Storage Portolio Purchased by Invesco Real Estate and Baranof Holdings


Invesco Real Estate, in partnership with Baranof Holdings, has acquired the Nest Self Storage portfolio located in Salem, OR, near Portland. The two-property portfolio was recently completed and approximately 85% occupied at closing.

The properties total 166.9k sf in 1,135 storage units. Both facilities are located in high exposure locations with excellent access to Interstates 5. Invesco plans to rebrand the facilities.

Greg Wells, Jim Lewis, Luke Elliott and Mike Mele with Cushman & Wakefield’s Self Storage Advisory Group were involved in brokering the transaction. The seller included MWIC Parkway LLC and MWIC Turner Road LLC, the original developers of the property.

“The opportunity to acquire a newly built portfolio of single-story drive up assets in a fast growth Pacific Northwest market is rare,” noted Wells.

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