| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) today announced the Company has entered into a new joint venture with an affiliate of Investment Real Estate Management, LLC ("IRE"), one of NSA's former participating regional operators ("PROs"), which manages self storage properties under the "Moove In" brand.
The joint venture is anticipated to have total buying power of approximately $350 million, through a combination of equity to be contributed by the partners and debt to be obtained by the joint venture. NSA has committed to providing 75% of the equity capital (up to $105 million) in exchange for preferred equity, with a 10% preferred return per annum as well as an opportunity for additional returns, which NSA expects to realize as the joint venture exits its investments in future years. NSA expects the joint venture to deploy the capital over the next 24 months, primarily targeting value-add self storage investments in attractive growth markets. Properties acquired by the joint venture will be managed by IRE under the Moove In brand.
Posted In: NSA
