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National Storage Affiliates to buy 32 self-storage assets for $180M

National Storage Affiliates Trust agreed to buy a roughly 1.7 million-rentable-square-foot, 32-property self-storage portfolio, spanning six states, for roughly $179.5 million.

The company will acquire 31 properties from third parties and one from an existing participating regional operator, with the transaction expected to close in the fourth quarter of 2017 and first half of 2018.

National Storage Affiliates will fund the transaction with about $136. million in cash, roughly $7.8 million of fixed-rate mortgages and approximately $34.8 million of operating partnership equity, which could include new preferred OP units.