National Storage Affiliates Trust Announces Addition of New PRO

Rhea-AI Summary

National Storage Affiliates Trust (NYSE: NSA) has entered into definitive agreements to add Blue Sky Self Storage as a Participating Regional Operator (PRO). Blue Sky manages over 150 self-storage facilities in the western and southern U.S., with an initial portfolio of seven properties expected to be acquired by NSA by Q1 2021. This partnership restores NSA's active PROs to ten and enhances its acquisition pipeline significantly. Blue Sky is led by industry veterans with extensive experience in self-storage acquisition and management.

Positive

• Addition of Blue Sky Self Storage enhances NSA's acquisition pipeline.
• Restores the number of active Participating Regional Operators to ten.
• Blue Sky's extensive network of industry relationships aids NSA's growth.

Negative

• None.

National Storage Affiliates Trust (NYSE: NSA), today announced that it has entered into definitive agreements to add Blue Sky Self Storage (“Blue Sky”), a strategic partnership between Argus Professional Storage Management and GYS Development LLC, as a Participating Regional Operator (PRO). Blue Sky and its affiliates own and/or manage over 150 self storage facilities, primarily located across the western and southern United States. Management expects that Blue Sky’s initial managed portfolio will consist of seven properties that will be acquired by NSA by the end of the first quarter 2021, following the satisfaction of customary closing conditions. The remaining properties in the Blue Sky portfolio will become part of NSA’s growing captive pipeline as candidates for future acquisition.

Tamara Fischer, President and Chief Executive Officer, commented, “We’re very excited to add Blue Sky to the NSA platform, which will return the number of active PROs to ten after the 2020 retirement of our SecurCare PRO and its integration into NSA’s corporate management team. Blue Sky’s large owned and third-party managed portfolio, which is predominantly in secondary markets, will significantly enhance our already robust acquisition pipeline. Further, Blue Sky brings an extensive network of industry relationships that will be beneficial to our growth going forward.”

Blue Sky is led by Lee Fredrick, Ben Vestal and Michael Perry, who have extensive experience in acquisition, development and management of self storage properties. Mr. Fredrick and Mr. Vestal have both been active in the self storage and broader real estate industry for more than 20 years, and Mr. Perry previously served as the Vice President of Acquisitions for NSA, playing a key role in NSA’s rapid external growth during the early years after NSA’s initial public offering.

Upcoming Industry Conference

NSA management is scheduled to participate in the KeyBanc Virtual Self Storage Investor Forum on January 7, 2021.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a real estate investment trust headquartered in Denver, Colorado, focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. As of September 30, 2020, the Company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 million rentable square feet. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States. For more information, please visit the Company’s website at www.nationalstorageaffiliates.com. NSA is included in the MSCI US REIT Index (RMS/RMZ), the Russell 2000 Index of Companies and the S&P SmallCap 600 Index.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201217006060/en/

FAQ

What is the latest news about National Storage Affiliates Trust (NSA)?

NSA has announced a partnership with Blue Sky Self Storage to enhance its management portfolio.

How many properties will NSA acquire from Blue Sky Self Storage?

NSA expects to acquire seven properties from Blue Sky by the end of Q1 2021.

Who leads Blue Sky Self Storage?

Blue Sky is led by Lee Fredrick, Ben Vestal, and Michael Perry, all with extensive experience in the self-storage industry.

What is the significance of the Blue Sky partnership for NSA?

The partnership significantly enhances NSA's acquisition pipeline and restores its active PROs to ten.

When is NSA participating in the KeyBanc Virtual Self Storage Investor Forum?

NSA management is scheduled to participate in the forum on January 7, 2021.