NexPoint Storage Partners, a self-storage platform affiliated with NexPoint Advisors, announced that it became the sole owner of 29 new, well-located and high-quality self-storage properties developed by SAFStor.
The acquisition brings NexPoint Storage to a total asset value of approximately $1.7 billion, with 71 wholly owned and operating properties and one additional property expected to open in February 2023.
The newly acquired properties are in high-density, high-growth submarkets in major U.S. markets and benefit from demographics very similar to those of the existing NexPoint Storage portfolio, including strong household incomes, a high percentage of renters and barriers to new development. The markets of the newly acquired properties include Baltimore, Cleveland, Detroit, Houston, Miami/Ft. Lauderdale, Nashville, New Orleans, Philadelphia, and Washington (D.C.).
“The SAFStor acquisition continues the strong execution of our strategy to own the newest an
