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27 Feb 2019

National Storage Affiliates Completes $1.7 Billion in 2018


On February 25, National Storage Affiliates (NSA) reported the company's fourth quarter and full year 2018 results.

"2018 was a banner year for the growth of NSA and our iStorage brand, with the formation of our 2018 Joint Venture and our investment in nearly $1.7 billion of self storage properties."

-Arlen Nordhagen, chairman and chief executive officer, National Storage Affiliates Trust

Nordhagen is excited for the momentum to continue into 2019 as the self storage REIT closed on the addition of its ninth Participating Regional Operator (PRO), Southern Self Storage, and entered into agreements to add its tenth PRO, Moove In Self Storage.

Moove In currently owns 19 self storage properties and operates a total of 23 self storage properties under the Moove In Self Storage brand in Pennsylvania, Maryland, New Jersey, and New York. Upon closing, Moove In intends to contribute six self storage properties to NSA as part of the initial contribution transaction, and Moove In's remaining properties will be added to NSA's captive pipeline.

Tamara Fischer, president and chief financial officer, commented, "Our same store pool in 2019 will increase by 63 stores for a total of 439 stores. These newly added stores are geographically diversified across 19 states."

Fischer added the company has already acquired or has under contract to acquire an additional 30 wholly-owned self storage properties for approximately $190 million during the first quarter of 2019.

2018 Highlights

About NSA

National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the U.S. The Company currently holds ownership interests in and operates 698 self storage properties located in 34 states and Puerto Rico with approximately 44.3 million rentable square feet.

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