News release

REIT acquires 14-property self storage portfolio

JLL Capital Markets closed the sale of the 8,517-unit portfolio in Texas, Minnesota and Missouri 

January 21, 2021

HOUSTON, Jan. 21, 2021JLL Capital Markets announced today that it has closed the sale of a 14-property, 8,517-unit self storage portfolio in markets in Houston, Austin and Dallas-Fort Worth, Texas; Minneapolis-St. Paul, Minnesota; and St. Louis, Missouri.

JLL worked on behalf of the seller, The Jenkins Organization. National Storage Affiliates Trust purchased the assets.

The facilities are located within or near dense population centers along major thoroughfares with excellent visibility and signage. The portfolio consists of six properties in and around Houston; three in the Austin MSA; two in Minneapolis-St. Paul markets; and one each in Dallas, San Antonio and St. Louis.

The JLL Capital Markets Investment Advisory team representing the seller was led by Managing Directors Steve Mellon and Brian Somoza, Senior Managing Director David Berglund and Vice President Blaise Tomazic.

“This was a highly compelling, turnkey opportunity for an investor to acquire a well-occupied self storage portfolio with upside,” Mellon said. “National Storage Affiliates Trust will be able to seamlessly integrate these properties into its already impressive roster of properties.”

According to JLL’s Self Storage REITS Q3 2020 report, the national self storage REITs appear to be recovering from the market slow-down caused by the COVID19 pandemic in the early part of 2020,  with operating metrics returning to historic levels. Acquisition activity among the national self storage REITs increased significantly during the third quarter of 2020, and third-party management platforms continue to grow among the national self storage REITs.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About The Jenkins Organization

The Jenkins Organization, Inc. (TJO) is a fully integrated real estate company specializing in the self-storage and RV park industries with expertise in the areas of acquisition, development, ownership, management, and disposition. Based in Houston, Texas, the award-winning company was launched in 1989 by Ricky L. Jenkins, sole owner of TJO. Celebrating its 30th anniversary, The Jenkins Organization has over $500 million of commercial real estate assets under management, including $350 million in owned assets.

The Jenkins Organization is aggressively seeking self-storage and RV park development and acquisition opportunities throughout the United States. TJO also performs third-party management for more than 60 self-storage facilities, and in total manages over 4.5 million square feet of self-storage space throughout Texas, Oklahoma, Louisiana, Virginia and Minnesota encompassing more than 20,000 customers.

About National Storage Affiliates

National Storage Affiliates Trust is a real estate investment trust headquartered in Denver, Colorado, 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 September 30, 2020, the company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 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 NSA is included in the MSCI US REIT Index (RMS/RMZ), the Russell 2000 Index of Companies and the S&P SmallCap 600 Index.