The company operates more than 775 self-storage facilities in 28 states
July 10, 2019: Buffalo, N.Y based self-storage real estate investment trust and third-party management company Life Storage Inc., has sold 32 facilities to an affiliate of The Inland Real Estate Group of Cos. Inc, a commercial real estate and finance firm. The facilities are in Louisiana, Mississippi, North Carolina, South Carolina and Texas. Life Storage expects to continue managing the properties, pending the finalization of a long-term agreement.
“We are pleased to complete the sale of these mature properties and look forward to growing our management relationship with Inland as they continue to expand their self-storage portfolio” Said by Joe Saffire, CEO of Life Storage.
“We are thrilled to form this strategic alliance with one of the largest publicly traded REITs in the self-storage industry” Said by Mark Cosenza, senior vice president of Inland Real Estate Acquisitions LLC
Life Storage operates more than 775 self-storage facilities in 28 states and Ontario, Canada. It has a portfolio of owned and managed facilities comprises more than 55 million square feet.