NSA Property Holdings Acquires Tri-State Self Storage in Castle County, DE

NSA Property Holdings LLC, an affiliate of real estate investment trust National Storage Affiliates Trust (NSAT), has acquired a three-property Tri-State Self Storage portfolio in Castle County, Del., from Tri-State Realty Associates L.P. The facilities sit on approximately 28.3 acres of land, according to a press release from SkyView Advisors, the investment-sales and advisory firm that brokered the deal.

NSA Property Holdings LLC, an affiliate of real estate investment trust National Storage Affiliates Trust (NSAT), has acquired a three-property Tri-State Self Storage portfolio in Castle County, Del., from Tri-State Realty Associates L.P. The facilities sit on approximately 28.3 acres of land, according to a press release from SkyView Advisors, the investment-sales and advisory firm that brokered the deal.

Overall, the properties comprise 264,237 rentable square feet of storage space in 2,428 units, 568 of are climate-controlled. They also contain 109 parking spaces and miscellaneous units, the release stated.

“It’s not often that a portfolio of this size becomes available in this region of the country, and it garnered multiple bids from national self-storage buyers,” said Ryan Clark, director of investment sales for SkyView Advisors and a broker in the transaction.

Last month, NSA Property Holdings acquired Stor-N-More Self Storage in Tampa, Fla., for $19 million. The property comprises 117,655 net rentable square feet in 1,105 units.

SkyView is a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. Based in Tampa, 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 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.

 

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish