LOS ANGELES—Storage Etc. Development LLC hasacquired a three-property self-storage portfoliofrom AMS Group for $16.4 million, GlobeSt.comreports exclusively. The three properties are located in primeinfill locations in Los Angeles and Riverside Counties.

“The buyer is a growing private company, and this was anopportunity to get some scale in the growing Southern Californiamarket with the purchase of a number of properties in goodsubmarkets that have never traded before,” FredCordova, an EVP at Kennedy Wilson BrokerageGroup who represented the buyer in the transaction, tellsGlobest.com.

The three properties are located at 8369 Garvey Ave. and 2747 LaPresa Drive in Rosemead, a two building property, 21320 GoldenSprings Drive in Diamond Bar and 863 Town Center Drive in Pomona,and total 158,000 square feet. The seller developed the propertyand operated it. This is the first time any of the assets in theportfolio have traded hands.