Los Angeles-based real estate developer Barker Pacific Group (BPG), acquired Elsinore Valley Self Storage through its affiliate, Union Development Co. (UDC). Offering self-storage and RV storage, the Lake Elsinore, Calif., property was purchased for $5.28 million from DGS Development Partners, a California company.
The acquisition includes more than 100,000 square feet of rentable space with 600 storage units and RV parking spaces on 6 acres. The newly acquired store will be re-branded to the Storage Solutions name. The transaction brings BPG/UDC’s total number of Storage Solutions stores to 19, serving Los Angeles, Orange, Riverside, San Bernardino and Santa Barbara counties.
BPG was founded more than 25 years ago to specialize in the development and acquisition of institutional-grade office, retail and residential projects in select U.S. cities.
UDC has been developing real estate in southern California for more than 100 years. The firm holds more than 1.7 million square feet of property in its portfolio, including retail shopping centers, industrial parks, self-storage facilities and boat/RV-storage facilities.