National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has acquired Security Storage in Hollywood, Md. The facility at 43890 Commerce Ave. sits on 4.08 acres. It comprises 46,932 net rentable square feet in 388 traditional units and four parking spaces, according to a press release from SkyView Advisors, the self-storage investment-sales and advisory firm that helped broker the deal.
The facility offers U-Haul truck rentals and has a resident manager. Security features include gated access and video cameras, according to the property website. It serves a population of 15,369 within a three-mile radius and 34,374 within five miles.
The seller was represented in the transaction by Ryan Clark, director of investment sales at SkyView, 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.
