National Storage Affiliates Trust (NYSE:NSA) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02.Unregistered Sales of Equity Securities.
The information in Item 8.01 below is incorporated into this Item 3.02 by reference.
Item 8.01.Other Events.
On February 5, 2019, NSA OP, LP (the “Operating Partnership”) issued 158,199 6.000% Series A-1 cumulative redeemable preferred units of limited partnership interest in the Operating Partnership (“Series A-1 Preferred Units”) as consideration for the acquisition of one self storage property from an unrelated third party.
Following a specified lock up period after the date of issuance set forth above, the Series A-1 Preferred Units issued by the Operating Partnership may be redeemed from time to time by the holders for a cash amount per Series A-1 Preferred Unit equal to the market value of an equivalent number of 6.000% Series A cumulative redeemable preferred shares of beneficial interest (“Series A Preferred Shares”) of National Storage Affiliates Trust (the “Company”). The Company has the right, but not the obligation, to assume and satisfy the redemption obligation of the Operating Partnership described above by issuing one Series A Preferred Share in exchange for each Series A-1 Preferred Unit tendered for redemption.
As of February 7, 2019, after reflecting the transaction described herein, 501,918 Series A-1 Preferred Units were issued and outstanding.
The issuance described above was exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended.
About National Storage Affiliates Trust (NYSE:NSA)
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 (MSAs) across the United States. The Company’s segment consists of investments in self-storage properties located in the United States. The Company’s operating partnership subsidiary is NSA OP, LP. The Company holds interests in a geographically diversified portfolio of approximately 280 self-storage properties, located in over 20 states, comprising approximately 15.8 million rentable square feet, configured in over 123,000 storage units. It has approximately six participating regional operators (PROs), including SecurCare Self Storage, Inc.; Kevin Howard Real Estate Inc.; Optivest Properties LLC; Guardian Storage Centers LLC; Move It Self Storage, and Arizona Mini Storage Management Company.