NEW YORK CITY—W. P. Carey Inc. said Monday that Brian Boulter had joined the company as director, self-storage. The sector veteran will be responsible for overseeing the management of WPC's existing self-storage portfolio on behalf of its managed non-traded REITs, CPA:17 – Global and CPA:18 – Global.
“Brian brings a strong background in both self-storage acquisitions and asset management to W. P. Carey,” says company president Jason Fox. “His experience in both of these areas positions him well to manage our existing portfolio activities on behalf of our managed REITs.”
Boulter joins WPC from Wasatch Storage Partners LLC, where he served as VP—business development. Before joining Wasatch, he was director of real estate acquisitions at Extra Space Storage Inc.
During his seven-year tenure with Extra Space, Boulter also served as national procurement manager. In that capacity, his responsibilities included the oversight of feasibility and budgetary analysis, contract negotiations and expense management. Prior to his time with Extra Space, Boulter was senior asset/property manager at Westfield Properties Inc. of Salt Lake City.
Boulter's new employer has been investing in the self-storage sector since 2004, when it completed its first investment in the asset class with the $298-million net lease sale-leaseback of 78 U-Haul facilities. As of this past October, WPC and its managed REITs combined were ranked by Inside Self-Storage as the eighth largest owner/operator of self-storage assets in the United States. In 2016, through CPA:17 – Global and CPA:18 – Global, WPC completed self-storage transactions totaling approximately $385 million.
“Brian brings a strong background in both self-storage acquisitions and asset management to W. P. Carey,” says company president Jason Fox. “His experience in both of these areas positions him well to manage our existing portfolio activities on behalf of our managed REITs.”
Boulter joins WPC from Wasatch Storage Partners LLC, where he served as VP—business development. Before joining Wasatch, he was director of real estate acquisitions at Extra Space Storage Inc.
During his seven-year tenure with Extra Space, Boulter also served as national procurement manager. In that capacity, his responsibilities included the oversight of feasibility and budgetary analysis, contract negotiations and expense management. Prior to his time with Extra Space, Boulter was senior asset/property manager at Westfield Properties Inc. of Salt Lake City.
Boulter's new employer has been investing in the self-storage sector since 2004, when it completed its first investment in the asset class with the $298-million net lease sale-leaseback of 78 U-Haul facilities. As of this past October, WPC and its managed REITs combined were ranked by Inside Self-Storage as the eighth largest owner/operator of self-storage assets in the United States. In 2016, through CPA:17 – Global and CPA:18 – Global, WPC completed self-storage transactions totaling approximately $385 million.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
