The Properties has been acquired for $44.2 million

June 5, 2025: A joint venture between Harvest Properties and New York Life Real Estate Investors (NYLREI), acquired two self-storage facilities in California for $44.2 million. Best Self Storage at 155 Fremont Drive in Sonoma comprises 80,000 square feet in 516 units. It was purchased in an off-market transaction. Vallejo Self Storage is a newly constructed building at 384 Fairgrounds Drive comprising 76,288 square feet in 919 climate-controlled units. Both will be branded and managed by self-storage real estate investment trust (REIT) Extra Space Storage. 

The seller was represented by JLL Capital Markets, a global commercial real estate and investment-management company. Oakland, California-based Harvest has a portfolio comprising 10 million square feet of industrial, office, research and development, and retail properties in the San Francisco Bay Area. It entered the self-storage sector last year. NYLREI is a subsidiary of New York Life Insurance Co. and an affiliate of New York Life Investments. It’s a real estate debt and equity investment firm with $69.7 billion in assets under management.