Corporate Property Associates 17-Global has completed the acquisition of a portfolio of 34 self-storage properties, Commercial Real Estate Direct reports. The New York–based real estate investment trust has paid a total of $139.8 million to A-American Self Storage for the acquisition.
The buyer has paid A-American in a number of transactions during the last two quarters, the $31 million purchase of nine properties in California and Illinois included. The non-traded REIT has selected Extra Space Storage to run the properties it acquired in California and SecurCare Self Storage to manage those in Illinois.
Click here for the story from Commercial Real Estate Direct.