National Storage Affiliates Trust Announces the Election of Michael Schall to the Board of Trustees

Rhea-AI Summary

National Storage Affiliates Trust (NYSE: NSA) announced that Michael Schall has been elected to the Board of Trustees, effective May 13, 2024. Schall, with extensive experience in executive leadership and REITs, will join the Audit and Finance Committees. He previously served as President and CEO of Essex Property Trust and currently sits on the Board of Trustees for Pebblebrook Hotel Trust. The announcement emphasized shareholders' strong support for Schall's appointment, expected to enhance NSA's strategic initiatives. NSA will participate in the Nareit REITweek: 2024 Investor Conference from June 4-6, 2024.

Positive

• Michael Schall brings extensive executive leadership experience to NSA's Board, enhancing strategic planning.
• Shareholders showed overwhelming support for Schall's addition, indicating strong confidence in his capabilities.
• Schall's expertise includes significant roles in property operations, redevelopment, and co-investment programs.
• NSA's participation in the Nareit REITweek: 2024 Investor Conference may increase investor interest and engagement.

Negative

• No immediate tangible financial benefits or performance enhancements were specified with Schall's appointment.
• Schall's transition period might delay any immediate impact on NSA's strategic initiatives until mid-2024 or later.

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- National Storage Affiliates Trust (“NSA” or the “Company”) (NYSE: NSA) today announced that shareholders elected Michael Schall to its Board, effective May 13, 2024. Mr. Schall has been appointed to serve on the Audit and Finance Committees.

Tamara Fischer, Executive Chairperson of the Board of Trustees, commented, “We are pleased to announce that our shareholders showed overwhelming support for Mike’s addition to our board, as his extensive experience in various executive leadership roles and on the boards of publicly traded REITs will enhance our strategic endeavors toward building value for all of NSA’s stakeholders.”

Mr. Schall retired from Essex Property Trust (NYSE: ESS), where he held the position of President and Chief Executive Officer from 2010 through the first quarter of 2023. Mr. Schall served as the Senior Executive Vice President and Chief Operating Officer for ESS from 2005 to 2010, responsible for the strategic planning and management of the Company’s property operations, redevelopment and co-investment programs, and from 1993 to 2005 as the Company’s Chief Financial Officer. Mr. Schall also currently serves as a member of the Board of Trustees of Pebblebrook Hotel Trust, Inc. (NYSE: PEB). Mr. Schall received a B.S. from the University of San Francisco and is a Certified Public Accountant (inactive), and is a member of the National Multifamily Housing Council and AICPA.

Ferguson Partners, a firm specializing in Board and executive recruitment in the REIT industry, advised NSA’s Board in this recruitment effort.

Upcoming Industry Conference

NSA management is scheduled to participate in the Nareit REITweek: 2024 Investor Conference on June 4 - 6, 2024 in New York, New York.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of March 31, 2024, the Company held ownership interests in and operated 1,050 self storage properties located in 42 states and Puerto Rico with approximately 68.7 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 1000 Index of Companies and the S&P MidCap 400 Index.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240513143775/en/

National Storage Affiliates Trust

Investor/Media Relations

George Hoglund, CFA

Vice President - Investor Relations

720.630.2160

ghoglund@nsareit.net

Source: National Storage Affiliates Trust

FAQ

Who was elected to the National Storage Affiliates Trust Board of Trustees in May 2024?

Michael Schall was elected to the National Storage Affiliates Trust Board of Trustees, effective May 13, 2024.

What committees will Michael Schall serve on in NSA?

Michael Schall will serve on the Audit and Finance Committees of the National Storage Affiliates Trust Board.

What is Michael Schall's previous experience before joining NSA?

Michael Schall was the President and CEO of Essex Property Trust and has extensive experience in executive leadership and REITs.

What is the significance of Michael Schall's appointment to NSA's Board?

Michael Schall's appointment brings significant executive experience, expected to enhance NSA's strategic initiatives and shareholder value.

When is NSA scheduled to participate in the Nareit REITweek: 2024 Investor Conference?

NSA is scheduled to participate in the Nareit REITweek: 2024 Investor Conference from June 4-6, 2024.