Update 2/29/16 – NSAT has acquired a three-property Access Self Storage portfolio in Camby and Indianapolis, Ind. The assets were purchased from Access Self Storage of Heartland Crossing LLC, Emerson Access Storage LLC, Rockville Road Storage LLC and Rockville Road Storage II LLC, according to a press release from BVA, which represented the collective seller. The properties comprise 231,060 square feet.
The portfolio includes 355 units with climate control, 1,219 traditional units and 123 spaces for boat/RV storage, the release stated. Similar to the previous three-property portfolio acquisition announced earlier this month, the facilities will be managed by SecurCare.
Clark and Crotty also represented the seller in this deal.
2/19/16 – National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has acquired a three-property portfolio in Avon and Indianapolis, Ind. The assets were purchased from Avon Self Storage Lockers Inc., Avon Self Storage Spot Inc. and Kentucky Avenue Self Storage Inc., according to a press release from BayView Advisors (BVA), the Tampa-Fla.-based investment-sales and advisory firm that represented the collective seller. The properties comprise 245,664 square feet. They are:
- 71 Vista Parkway in Avon, Ind.
- 9303 U.S. Highway 36 in Avon, Ind.
- 4115 Heiney Road in Indianapolis
The portfolio includes 112 alarmed units, 160 units with climate control, 1,335 traditional units and 111 spaces for boat/RV storage, the release stated. The properties will be managed by SecurCare Self Storage, one of NSAT’s seven participating regional operators.
The seller was represented by Ryan N. Clark, senior vice president, and Jay J. Crotty, managing partner, at BVA. Launched last year, BVA is a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. It has offices in Cleveland, Milwaukee and Tampa, Fla.
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 280 self-storage facilities in 16 states comprising approximately 16 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.
