National Storage Affiliates Announces Internalization of Its Largest PRO and Appointment of David Cramer as Its Chief Operating Officer
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- National Storage Affiliates Trust (“NSA” or the "Company") (NYSE: NSA) today announced the closing, effective March 31, 2020, of the previously announced internalization of the Company's largest participating regional operator ("PRO"), SecurCare Self Storage, Inc. ("SecurCare").
Also effective April 1, 2020, Dave Cramer, previously president and chief executive officer of SecurCare, was appointed Executive Vice President and Chief Operating Officer of NSA. Further details are contained in NSA's current report on Form 8-K, filed with the SEC on February 24, 2020.
Tamara Fischer, President and Chief Executive Officer, commented, "I’m pleased to announce that despite the unprecedented economic environment, the internalization of SecurCare was completed as originally scheduled. Our team really looks forward to working with Dave in his new role. Although SecurCare was one of our founding PROs and part of the NSA PRO platform since our inception, we’re excited to welcome the SecurCare team as official NSA employees.”
Dave Cramer, NSA’s new Executive Vice President and Chief Operating Officer, added, "I’m excited to transition to the NSA management team and further develop the corporate operating platform. Although recent macro events present challenges for the economy as a whole, I’m confident in our ability to navigate the current environment and continue to deliver sector-leading returns for the foreseeable future."
About National Storage Affiliates Trust
National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2019, the Company held ownership interests in and operated 742 self storage properties located in 35 states and Puerto Rico with approximately 47.1 million rentable square feet. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States. For more information, please visit the Company’s website at www.nationalstorageaffiliates.com. NSA is included in the MSCI US REIT Index (RMS/RMZ), the Russell 2000 Index of Companies and the S&P SmallCap 600 Index.
National Storage Affiliates Trust
George Hoglund, CFA
Vice President - Investor Relations
Source: National Storage Affiliates Trust
Released April 1, 2020