National Storage Affiliates CEO Sees Significant Opportunity to Continue Acquisition Growth 6/1/2020 | By Sarah Borchersen-Keto Tamara Fischer, president and CEO of National Storage Affiliates Trust (NYSE: NSA) , participated in a video interview in conjunction with Nareit’s REITweek: Virtual Investor Conference (held June 2-4).
John's loves include pizza, University of Kansas basketball and puns. National Storage Affiliates is a self-administered, self-managed real estate investment trust, dedicated to the ownership, operation and acquisition of self storage facilities. National Storage Affiliates is a self-administered, self-managed REIT dedicated to the ownership, operation and acquisition of high-quality regional self storage facilities located within high growth markets. “We know we’ll be affected by it in the near term and probably over the next 12 months. During the REIT’s second-quarter earnings call on Aug. 7, President and CEO Tamara Fischer hinted that the company’s acquisition pace might heat up.“Now that operating fundamentals are stabilizing and there’s a sense that the worst is behind us, we’re starting to see portfolios come back to market and overall market transaction activity is picking up,” Fischer told Wall Street analysts.The REIT, she said, is poised to jump on potential acquisitions thanks to a juiced-up revolving line of credit, a robust acquisition pipeline and a batch of operating partnership shares that provide “attractive acquisition currency.”“We are definitely seeing a pickup in [acquisition] activity.
On the acquisition front, the second quarter was pretty quiet for National Storage Affiliates Trust. Still, she added, the company remains motivated to carry out acquisitions.Asked by a Wall Street analyst whether the REIT soon might return to growing its portfolio by 20% a year, Fischer said the target is now around 10%, but she believes 20% wouldn’t be out of the question in the near future. The portfolio features 8.7 million rentable square feet of space in over 68,000 storage units. Following a slow first quarter in which there was a “disconnect between buyers and sellers,” Nordhagen said a pick-up in acquisitions volume has been evident in the second half of the year. National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has formed a joint venture (JV) with an affiliate of Heitman Capital Management LLC to acquire 112 Simply Self Storage (SSS) facilities from a private real estate fund managed by Toronto-based Brookfield Asset Management Inc. (BAM).
Through ongoing contributions from its Participating Regional Operators ("PROs"), third party acquisitions and joint venture partnerships, as of June 30, 2020, NSA currently holds ownership interests in and operates 784 self storage properties located in 35 states + Puerto Rico with approximately 49 million rentable square feet. But the self-storage REIT soon might be making some more noise in that regard.In the quarter ended June 30, the Greenwood Village, CO-based company purchased four facilities for $36.2 million. National Storage Affiliates, a Greenwood Village, CO-based real estate investment trust, has struck a deal to acquire 112 self-storage locations from Orlando, FL-based Simply Self Storage for $1.325 billion dollars. In the quarter ended June 30, the Greenwood Village, CO-based company purchased four facilities for $36.2 million. On the whole, we’re still very bullish about the asset class, we think it will outperform other asset classes, generally speaking, and we believe NSA will outperform in its own sector,” she added. Second Quarter 2020 Highlights Reported net income of $17.8 million for the second quarter of 2020, an increase of 0.3% compared to the second quarter of 2019.
Contact NSA to receive information on how to join.By using this website or closing this window, you agree to our use of cookies. GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) today reported the Company’s second quarter 2020 results. © 2020 National Storage Affiliates Trust 1 Year Total Return: 7.37%. National Storage Affiliates CEO Sees Significant Opportunity to Continue Acquisition Growth 6/1/2020 | By Sarah Borchersen-Keto Tamara Fischer, president and CEO of National Storage Affiliates Trust (NYSE: NSA) , participated in a video interview in conjunction with … National Storage Affiliates Trust Acquires SecurCare Self Storage.
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