National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has hired Russell Brown as senior vice president of acquisitions. Brown will join the REIT’s acquisition platform, which has already purchased more than $400 million of self-storage this year, according to Tamara Fischer, president and chief financial officer.
“Russell has been active in real estate acquisitions for the past several years, during which time he’s developed key relationships with various real estate industry constituents that will benefit [NSAT],” said Arlen Nordhagen, company chair and CEO.
Brown was most recently senior vice president of investments and capital markets with Flagship Healthcare Properties LLC, where he was responsible for executing the acquisition and investment strategy, risk management, portfolio optimization, financing, and structuring of the firm’s affiliate REIT, Flagship Healthcare Trust Inc. Flagship holds interest in more than 45 healthcare properties valued at more than $350 million, according to the company website. Its portfolio includes more than 1.3 million square feet of medical office space.
Brown holds a Master of Business Administration from Duke University and a bachelor’s degree in finance from the University of North Carolina at Charlotte.
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 more than 700 storage facilities in 35 states and Puerto Rico. Its portfolio comprises approximately 46 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.