National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has published its first report chronicling its environmental, social and governance (ESG) achievements since establishing a steering committee last year to oversee its corporate initiatives. The 15-page report includes an overview of the company and how it has performed in each of the three categories.
“We are committed to conducting business in accordance with our core values of integrity, accountability, humility and compassion, which we believe benefit all of our stakeholders,” said Tamara Fischer, CEO. “These principles have guided our business conduct since formation, and we recognize that an enhanced level of disclosure surrounding ESG initiatives is becoming increasingly important. This inaugural report is intended to mark the beginning of our formal efforts to communicate our achievements with all stakeholders.”
Among the company’s environmental initiatives is retrofitting light fixtures across its portfolio with LED bulbs. Since implementing this effort in October 2018, the REIT has completed the switch at more than 300 self-storage properties and will continue the program this year. It’s also installing motion sensors and examining waste management and water conservation across its property network.
NSAT social initiatives include community-outreach programs and charitable activity, with an emphasis on diversity and inclusion. Fischer is one of 10 female CEOs from more than 200 public U.S. REITs, while 35 percent of the company’s senior-management team are women, according to the report. Across the company’s workforce, 56 percent of employees are women and 16 percent are African-American.
The report also addresses company compliance with applicable laws, rules, regulations and policies.
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 780 storage facilities in 35 states and Puerto Rico. Its portfolio comprises approximately 48.9 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.