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National Storage Affiliates Trust Buys 22-Property California Self-Storage Portfolio From W. P. Carey Affiliate

August 12, 2016

 

 


National Storage Affiliates Trust Buys 22-Property California Self-Storage Portfolio From W. P. Carey Affiliate

August 5, 2016 | Inside Self Storage

Storage doors. Building interior.Industrial storage in the city. Green doors.

National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has acquired a 22-property self-storage portfolio in California from CPA:17 – Global, a publicly held, non-traded REIT managed by global net-lease REIT W. P. Carey Inc., according to the source. The facilities comprise a total of 1.6 million square feet and had an occupancy of 92 percent at the time of the sale.

The transaction includes eight facilities in Central California—seven in Bakersfield and one in Fresno. Southern California locations include Anaheim, Apple Valley, Grand Terrace, Harbor City, Palmdale, Riverside, Rosamond, San Diego, South Gate and Victorville, the source reported.

Self-storage REIT and third-party management company Extra Space Storage Inc. manages the portfolio, according to the source.

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John E. Moriarty, ChFC
December 2015
February 3, 2016

I have been in the financial services industry for 20 years and our firm provides an education platform that gets clients to “think differently” about their financial picture.  For many years we have communicated to clients the need to diversify their portfolios using alternative asset classes and more specifically, private non-traded investments.  Due diligence on these types of financial vehicles is essential and when I learned about Blue Vault in 2010, our firm immediately began using their material as a tool to build confidence in the minds of our advisors on which alternatives to recommend to clients.  I am impressed with the way Blue Vault continues to add value to their subscribers and I view their publication as a tremendous resource in today’s complex world.