Optivest Properties Co-Founds the Largest Privately-Owned Self Storage REIT

DANA POINT, CA--(Marketwired - Jul 10, 2013) - Optivest Properties, a property acquisition and management company specializing in mini-storage warehouse and an affiliate of Optivest, announced today that they have joined Northwest Self Storage of Ore. and SecurCare Self Storage of Lone Tree, Colo. to form National Storage Affiliates (NSA), the first affiliate-owned and operated self-storage REIT (real estate investment trust). NSA now has more than $800 million in committed asset value and is owned by its affiliate operators, who will contribute the ownership of their self-storage assets to NSA over the next few years, as current mortgage debt matures. The formation of NSA, a Maryland real estate investment trust, will make it the largest privately-owned company in the self-storage sector, with approximately 220 facilities, 100,000 storage units and 12.5 million rentable square feet of space located in 15 states. 

"This REIT structure gives a viable and very flexible exit strategy for our existing clients when it is time to sell their properties in the future," said Warren Allan, president of Optivest Properties. "The ability to partner with our other core affiliates will not only enhance our operating platform but provides the opportunity for all of us as operators to leverage our knowledge & expertise of the industry and operations as a whole."

Financing for NSA was provided by Wells Fargo, US Bank and a Prudential real estate investors debt fund, and is part of an expandable program to add future properties to the NSA REIT. Clifford Chance is legal counsel and Knightsbridge Realty Capital is providing strategic advisory series for NSA. Optivest Properties will continue to manage all of its NSA properties and is seeking more acquisitions to contribute to the REIT. The size of the NSA will enable Optivest Properties to considerably lower their cost of debt service, vendor and marketing relationships with economies of scale.

"We are proud to be a founding Operator and Property Manager of the NSA REIT, and we see it as a great way to optimize the returns for our investors," said Mark Van Mourick, founder of Optivest and CEO of Optivest Inc. Wealth Management.

Optivest Properties specializes in self-storage property management, acquisition, image branding, asset financing and project consulting. They currently manage 54 locations nationwide with more than 27,000 units and over 4.5 million square feet of mini storage, RV and commercial storefront/warehouse storage space located in Calif., Ariz., Nev., Texas, Tenn., Colo. and N.H. For more information, visit www.optivestproperties.com

About Optivest Companies:

Based in Dana Point, Calif., The Optivest companies are comprised of Optivest Properties, Optivest Inc. wealth management, Optivest Investment Banking and Optivest Foundation. Optivest began in 1987 as a Wealth Management firm and boutique multi-family office for high net-worth families. Optivest Properties launched in 2007, specializing in operating mini-storage facilities across the US, and Optivest Investment Banking launched in January 2013. The greater purpose of these companies is to fund the Optivest Foundation; all three divisions of Optivest contribute 10% of their gross sales to support Christian ministries and non-profit organizations across the globe through the Optivest Foundation. For more information, visit www.Optivestinc.com.