National Storage, Heitman form JV to acquire $1.33B self-storage portfolio
National Storage Affiliates Trust and an affiliate of Heitman Capital Management LLC have formed a joint venture to acquire a portfolio of 112 self-storage properties from Simply Self Storage for $1.325 billion.
National Storage will contribute approximately $160.8 million in equity capital to the joint venture for a 25% stake. Heitman will own the remaining 75%. Simply Self Storage is a portfolio company of a private real estate fund managed by Brookfield Asset Management Inc.