{"id":1004147053,"date":"2016-06-30T01:42:12","date_gmt":"2016-06-30T09:42:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004147053"},"modified":"2020-04-15T02:50:42","modified_gmt":"2020-04-15T10:50:42","slug":"nsa-trust-to-buy-29-property-self-storage-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/","title":{"rendered":"NSA Trust to Buy 29-Property Self-Storage Portfolio"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/p>\n

\"National<\/a>

National Storage Affiliates Trust headquarters, Greenwood Village, Colo.<\/p><\/div>\n

Denver<\/strong>\u2014National Storage Affiliates Trust<\/a> has agreed to acquire 29 self-storage properties<\/a> across six states, totaling about 2.1 million rentable square feet and about 18,000 storage units, for a total price of about $190 million, the REIT announced Tuesday. The largest part of the acquisition is a 22-property portfolio in California, for which NSA will pay about $154 million.<\/p>\n

Almost all of the properties will be acquired in third-party transactions, and the vast majority of the funding, about $187 million, will be in\u00a0cash. The acquisitions are expected to close in the third quarter.<\/p>\n

With this batch of acquisitions, NSA \u201cwill have successfully completed or currently have under contract approximately $390 million of acquisitions, representing 54 properties and over 36,500 units since the end of the first quarter 2016 and approximately $480 million, representing 71 properties and over 44,000 units since the end of the fourth quarter 2015,\u201d NSA CEO Arlen Nordhagen said in a prepared statement.<\/p>\n

NSA declined to provide Commercial Property Executive<\/a><\/em> with additional information.<\/p>\n

Cap rates in the self-storage sector continue to compress, though lately at a more modest pace, and \u201cinvestors are exploring secondary markets in their search for deals,\u201d according to a new Self Storage Investor Survey released\u2014also on Tuesday\u2014by CBRE<\/a>\u2019s Valuation & Advisory Services.<\/p>\n

Since 2010, cap rates have compressed 275 basis points, an average pace of nearly 5 bps per quarter, according to the investor survey, though more recently the compression has slowed to 4 bps per quarter.<\/p>\n

\u201cThe spread among Class A, B and C narrows slightly, suggesting buyers are looking more to secondary and tertiary markets for product,\u201d Chris Sonne, executive vp &\u00a0National Self Storage Valuation group leader with\u00a0CBRE, said in a prepared statement. \u201cThere remains a 65 basis point spread from Class A to Class C, but this can range much higher depending upon the asset and location.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Colorado-based REIT is shelling out $190 million to acquire roughly 2.1 million square feet of self-storage space across the U.S.<\/p>\n","protected":false},"author":882,"featured_media":1004147062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1587,21808,21825,21783,23891,21742,15],"tags":[],"class_list":["post-1004147053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-denver","category-featured","category-finance","category-investment","category-national","category-latest","category-west"],"acf":[],"yoast_head":"\nNSA Trust to Buy 29-Property Self-Storage Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NSA Trust to Buy 29-Property Self-Storage Portfolio\" \/>\n<meta property=\"og:description\" content=\"The Colorado-based REIT is shelling out $190 million to acquire roughly 2.1 million square feet of self-storage space across the U.S.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-30T09:42:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-15T10:50:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/nas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1657\" \/>\n\t<meta property=\"og:image:height\" content=\"963\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/\",\"name\":\"NSA Trust to Buy 29-Property Self-Storage Portfolio - 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He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NSA Trust to Buy 29-Property Self-Storage Portfolio - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"NSA Trust to Buy 29-Property Self-Storage Portfolio","og_description":"The Colorado-based REIT is shelling out $190 million to acquire roughly 2.1 million square feet of self-storage space across the U.S.","og_url":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2016-06-30T09:42:12+00:00","article_modified_time":"2020-04-15T10:50:42+00:00","og_image":[{"width":1657,"height":963,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/nas.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/","url":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/","name":"NSA Trust to Buy 29-Property Self-Storage Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/nas.jpg","datePublished":"2016-06-30T09:42:12+00:00","dateModified":"2020-04-15T10:50:42+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/nas.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/nas.jpg","width":1657,"height":963},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/nsa-trust-to-buy-29-property-self-storage-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"NSA Trust to Buy 29-Property Self-Storage Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. 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