National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has acquired the Ace Storage portfolio in the St. Louis market. The transaction includes six properties comprising 440,059 square feet in 2,996 units and 331 parking spaces, according to a press release from SkyView Advisors, the self-storage investment-sales and advisory firm that helped broker the deal.
There are 750 climate-controlled units between the six locations. Ace Storage was represented in the transaction by Ryan Clark, director of investment sales at SkyView.
SkyView is a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. Based in Tampa, Fla., the firm also has offices in Cleveland and Milwaukee.
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 483 storage facilities in 28 states. Its portfolio comprises approximately 30 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.