Portfolio activity stood out this week, with five of the nine transactions involving multiple properties across Oregon, Texas, Washington, Maryland and Michigan. Together, those deals account for 20 facilities, reflecting portfolio activity across geographically and fundamentally different markets. Institutional capital was represented by Ares Real Estate Fund’s acquisition of the two-property Rockville, MD portfolio. Separately, three Extra Space-branded or managed assets changed hands in Phoenix, Vero Beach and Malden, MA. However, the transactions reflect changes in property ownership rather than acquisitions by Extra Space itself. The underlying markets reveal just…
