GREENWOOD VILLAGE, CO—National Storage Affiliates Trust's joint venture with a major state pension fund has completed the acquisition of the iStorage portfolio. As GlobeSt.com previously reported, the aggregate purchase price was approximately $630 million.
The portfolio consists of 66 properties containing approximately 4.5 million rentable square feet, configured in over 35,000 storage units and located across 12 states. Separately, NSA completed the acquisition of the iStorage property management platform, including a property management company, a captive insurance company, and the iStorage brand.
Steven Treadwell, SVP of operations for NSA, has been appointed President of NSA's iStorage management division, which will be known as National Storage Affiliates Trust Management Company. In this role, Treadwell will lead a team of approximately 150 associates in driving the portfolio's continued growth and integrating the iStorage operations with NSA's established best practices. Treadwell has held his role with NSA since 2014 and was instrumental in the company's initial public offering. Prior to that, he worked in the real estate and energy industries, including serving as divisional CFO at ProLogis, a global REIT in the industrial sector. He served for 12 years as an officer in the U.S. Air Force and received his B.S. from the U.S. Air Force Academy, his M.S. from the Massachusetts Institute of Technology and his MBA from the Harvard Business School.
Arlen Nordhagen, CEO of NSA, says that the iStorage acquisition is an ideal fit with NSA's business structure, and “the strategic decision to acquire the iStorage management platform strengthens our industry footprint as we continue to expand our market presence.”
Nordhagen adds that the appointment of Treadwell as president of the iStorage management division is a clear-cut fit for NSA. “Steve has been immensely successful in managing our self storage operations platform, providing leadership to the best practices committee, directing the implementation of our revenue management and analytics system, and expanding our internet marketing outreach.”
GREENWOOD VILLAGE, CO—National Storage Affiliates Trust's joint venture with a major state pension fund has completed the acquisition of the iStorage portfolio. As GlobeSt.com previously reported, the aggregate purchase price was approximately $630 million.
The portfolio consists of 66 properties containing approximately 4.5 million rentable square feet, configured in over 35,000 storage units and located across 12 states. Separately, NSA completed the acquisition of the iStorage property management platform, including a property management company, a captive insurance company, and the iStorage brand.
Steven Treadwell, SVP of operations for NSA, has been appointed President of NSA's iStorage management division, which will be known as National Storage Affiliates Trust Management Company. In this role, Treadwell will lead a team of approximately 150 associates in driving the portfolio's continued growth and integrating the iStorage operations with NSA's established best practices. Treadwell has held his role with NSA since 2014 and was instrumental in the company's initial public offering. Prior to that, he worked in the real estate and energy industries, including serving as divisional CFO at
Arlen Nordhagen, CEO of NSA, says that the iStorage acquisition is an ideal fit with NSA's business structure, and “the strategic decision to acquire the iStorage management platform strengthens our industry footprint as we continue to expand our market presence.”
Nordhagen adds that the appointment of Treadwell as president of the iStorage management division is a clear-cut fit for NSA. “Steve has been immensely successful in managing our self storage operations platform, providing leadership to the best practices committee, directing the implementation of our revenue management and analytics system, and expanding our internet marketing outreach.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
