National Storage Affiliates Trust Forms $350 Million Joint Venture With Investment Real Estate Management
National Storage Affiliates Trust (NSA) has announced a new joint venture with an affiliate of Investment Real Estate Management, LLC $(IRE)$, which manages self storage properties under the "Moove In" brand. The joint venture is expected to have a total buying power of around $350 million, combining partner equity and debt, and will focus on value-add self storage investments in growth markets. NSA will provide up to $105 million in preferred equity, with a 10% preferred annual return and potential for additional returns as investments are exited in the future. Properties acquired through this partnership will be managed by IRE under the Moove In brand.
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