DENVER-National Storage Affiliates today hascompleted its formation transaction with the contribution of 64self storage assets in 11 states from its affiliatedoperators—Optivest Properties, Northwest SelfStorage and SecurCare SelfStorage. National Storage Affiliates isorganized as a Maryland real estate investment trust and now hasmore than $800 million of committed asset value,making it one of the largest self storage operators in the U.S.

The company is currently owned and operated by its affiliatedoperators, who will continue to manage and self-brand theircontributed portfolios under the National Storage Affiliatesumbrella.

Arlen Nordhagen, CEO of National StorageAffiliates and SecurCare commented, “With market trends in ourindustry increasingly favoring size and scale, we feel that ourcollective teams and assets are greater as a whole than the sum ofthe parts.” Nordhagen continued, “As affiliate-owners ofNational Storage Affiliates, we have addressed our desire tocontinue to operate and grow our respective contributed portfolios,while improving our financial and operational positions through theREIT.”

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.