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Self-Storage REIT Life Storage Sells 32 Facilities to Inland Real Estate Affiliate
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.


Source: www.insideselfstorage.com/reits/self-storage-reit-life-storage-sells-32-facilities-inland-real-estate-affiliate