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LA real estate firm purchases Elsinore Valley Storage for $5.28 million
LAKE ELSINORE - A Los Angeles-based real estate investment firm announced today the $5.28 million acquisition of Elsinore Valley Storage in Lake Elsinore.
The six-acre facility, which includes 600 storage units and recreational vehicle parking stalls, will be Barker Pacific Group's second Storage Solutions store in Riverside County, according to the company.
"We've been ready, but patient, to grow our portfolio,'' said Michael Barker, BPG's managing director. "This acquisition strengthens our position and diversifies Advertisement
our product offering in this rapidly growing area.''
With the acquisition, BPG and its affiliate, Union Development Co., will operate a total of 19 Storage Solutions stores across Los Angeles, Orange, Riverside, Santa Barbara and San Bernardino counties.
DGS Development Partners was the prior owner of the Lake Elsinore facility.
A BPG spokesman said the property transfer should not cause any disruption to customers currently renting space at the site.
Issue 35, Volume 9
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