National Storage Affiliates Trust Announces Executive Changes
February 24, 2020 at 05:10 pm EST
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On February 24, 2020, National Storage Affiliates Trust announced that the Company and its newly-formed wholly owned subsidiary, entered into an agreement and plan of merger with SecurCare Self Storage Inc. On February 24, 2020, in connection with the internalization of SecurCare described above, the Company announced that its board of trustees approved the appointment of David Cramer, who currently serves as the president and chief executive officer of SecurCare, to the position of chief operating officer and executive vice president, effective at or around the closing of the SecurCare merger. Mr. Cramer, has served as SecurCare's chief executive officer and president since 2014. Prior to that, Mr. Cramer served as chief operating officer and director of operations of SecurCare and has more than twenty-two years of experience in the self storage industry since he joined SecurCare in 1998. Also on February 24, 2020, Steven B. Treadwell, the Company's current chief operating officer, executive vice president and president of the Company's internal property management platform, notified the Company of his resignation from such positions, which it expect to be effective at or around the closing of the SecurCare merger, to pursue other interests.
National Storage Affiliates Trust is an integrated, self-administered, and self-managed real estate investment trust. The Company is focused on the ownership, operation and acquisition of self-storage properties located within various metropolitan statistical areas across the United States. The Company owns approximately 1,050 self-storage properties, located in 42 states and Puerto Rico, comprising approximately 68.6 million rentable square feet in approximately 5,42,000 storage units. The properties are managed with a local operational focus of the Company and its participating regional operators (PROs). The Company also managed through its property management platform an additional portfolio of 185 properties owned by the Company's unconsolidated real estate ventures. These properties contain approximately 51.9 million rentable square feet, in approximately 4,07,000 storage units. The Companyâs operating partnership subsidiary is NSA OP, LP.