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Barker Pacific Affiliate Acquires 108k sf Self-Storage Facility in Santa Maria

Los Angeles-based real estate developer Barker Pacific Group (BPG), through its affiliate Union Development Company (UDC), acquired A-American Self Storage in Santa Maria, a 108.6k sf self-storage and RV storage facility. Located in the city of Santa Maria, in Santa Barbara County, the property was purchased for $4.5 mil from A-American/Santa Maria Storage Partners. The facility will be rebranded under UDC's Storage Solutions portfolio.

The acquisition consists of 849 storage units along with 99 RV parking spaces on 5.65 acres. The deal brings BPG/UDC's total number of self-storage locations to 20. Storage Solutions provides self-storage facilities in Los Angeles, Orange, Riverside, San Bernardino, and Santa Barbara Counties.

Michael Barker, UDC chairman and managing Director of BPG, said, "We continue to seek strategic acquisitions to grow our storage real estate portfolio. A-American's addition complements our existing Santa Maria facility and allows us to provide RV parking for our customers in the Santa Barbara marketplace."

Storage Solutions is the self-storage division of Union Development Company (UDC), which holds more than 1.7 msf of property in its portfolio including retail shopping centers, industrial parks, and self-storage facilities and R.V. and boat storage facilities that are branded under the Storage Solutions name. Both companies are based in Cerritos and co-owned in a joint venture by BPG and New York-based Angelo, Gordon & Co., a leading investment management firm specializing in non-traditional assets.

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Source: http://www.rentv.com/content/southerncalifornia/mainnews/news/13336


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