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NSA Property Holdings Acquires Self-Storage Facility in Lexington Park, MD

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NSA Property Holdings LLC, an affiliate of real estate investment trust National Storage Affiliates Trust (NSAT), has acquired a 74,101-square-foot self-storage facility in Lexington Park, Md. Built between 2013 and 2015, the 9.8-acre property includes 791 units, six vehicle-storage spaces and 920 square feet of parking. It has been managed by self-storage real estate investment trust and third-party management firm Extra Space Storage and branded under its name.

The seller, Willows Road Business Park LLC, was represented in the transaction by Ryan Clark, director of investment sales at SkyView Advisors, a Tampa-Fla.-based boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing and sales.

Last month, NSA purchased the three-property Tri-State Self Storage portfolio in Castle County, Del., from Tri-State Realty Associates L.P. The facilities comprise 264,237 rentable square feet of storage space in 2,428 units, 568 of which are climate-controlled.

Headquartered in Greenwood, Colo., NSAT is a self-administered and -managed REIT focused on the acquisition, operation and ownership of self-storage properties within the top 100 U.S. Metropolitan Statistical Areas throughout the United States. The company has ownership interest in 456 storage facilities in 23 states. Its portfolio comprises approximately 28 million net rentable square feet. It's owned by its affiliate operators, who are contributing their interests in their self-storage assets over the next few years as their current mortgage debt matures.

Headquartered in Salt Lake City, Extra Space Storage Inc. is a real estate investment trust that owns or operates 1,470 self-storage properties in 38 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 1 million units and 111 million square feet of rentable space.

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