{"id":1935,"date":"2022-03-29T20:00:27","date_gmt":"2022-03-29T20:00:27","guid":{"rendered":"http:\/\/listselfstorage.com\/us\/industry-insights\/?p=1935"},"modified":"2022-03-29T20:00:27","modified_gmt":"2022-03-29T20:00:27","slug":"nate-pauls-world-class-sells-64-property-self-storage-portfolio-across-10-states-for-588-million","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/nate-pauls-world-class-sells-64-property-self-storage-portfolio-across-10-states-for-588-million\/","title":{"rendered":"Nate Paul&#8217;s World Class Sells 64-Property Self-Storage Portfolio Across 10 States for $588 Million"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\nNate Paul&#8217;s World Class Holdings has sold a 64-property self storage portfolio across 10 states to global real estate investment firm CBRE (NYSE: <a class=\"ticket-symbol\" href=\"https:\/\/www.prnewswire.com\/news-releases\/nate-pauls-world-class-sells-64-property-self-storage-portfolio-across-10-states-for-588-million-301509107.html#financial-modal\" data-toggle=\"modal\">CBRE<\/a>) and facility operator William Warren Group\/StorQuest for\u00a0<span class=\"xn-money\">$588 million in a bankruptcy sale<\/span>.<\/p>\n<p>The portfolio comprises over 4.1 million rentable square feet in <span class=\"xn-location\">Texas<\/span>, <span class=\"xn-location\">Ohio<\/span>, <span class=\"xn-location\">Illinois<\/span>, <span class=\"xn-location\">Colorado<\/span>, <span class=\"xn-location\">Missouri<\/span>,\u00a0<span class=\"xn-location\">Mississippi<\/span>,\u00a0<span class=\"xn-location\">Tennessee<\/span>,\u00a0<span class=\"xn-location\">Indiana<\/span>, <span class=\"xn-location\">New York<\/span>\u00a0and\u00a0<span class=\"xn-location\">Nevada<\/span>. The facilities were previously operated by Great Value Storage, Paul&#8217;s operating platform. The sale did not include any of Paul&#8217;s facilities in\u00a0<span class=\"xn-location\">California<\/span> and any of the firm&#8217;s new self storage developments and conversions nationally.<\/p>\n<blockquote><p>We plan to continue to invest in the self storage sector. As a firm, we have over 2 million square feet of new self storage developments and conversions underway nationally.&#8221;<\/p><\/blockquote>\n<p>At nearly\u00a0<span class=\"xn-money\">$600 million<\/span>, the acquisition is among the largest-ever private transactions in the burgeoning self storage sector, which has seen unprecedented growth since the onset of the pandemic.<\/p>\n<p><span class=\"xn-person\">Nate Paul<\/span>, founder, chairman and CEO of World Class, began investing in self-storage in 2008, acquiring properties from private independent owners as well as from public REITs such as LifeStorage and Cubesmart. Since 2008, World Class has amassed one of the industry&#8217;s largest privately owned self storage portfolios.<\/p>\n<p>&#8220;We have been long-term investors in self storage since entering the industry nearly 15 years ago,&#8221; Paul said. &#8220;The sale of this mature portfolio of assets to CBRE and William Warren Group presented us the opportunity to capitalize on that foresight, monetize our value-creation strategy, and achieve a highly favorable realization of our investment.&#8221;<\/p>\n<p>&#8220;We plan to continue to invest in the self storage sector. As a firm, we have over 2 million square feet of new self storage developments and conversions underway nationally,&#8221; Paul said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nate Paul&#8217;s World Class Holdings has sold a 64-property self storage portfolio across 10 states to global real estate investment firm CBRE (NYSE: CBRE) and facility operator William Warren Group\/StorQuest for\u00a0$588 million in a bankruptcy sale. The portfolio comprises over 4.1 million rentable square feet in Texas, Ohio, Illinois, Colorado, Missouri,\u00a0Mississippi,\u00a0Tennessee,\u00a0Indiana, New York\u00a0and\u00a0Nevada. The facilities were previously operated by Great Value Storage, Paul&#8217;s operating platform. The sale did not include any of Paul&#8217;s facilities in\u00a0California and any of the firm&#8217;s new self storage developments and conversions nationally. We plan to&hellip;<\/p>\n","protected":false},"author":7,"featured_media":556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/1935"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=1935"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/1935\/revisions"}],"predecessor-version":[{"id":1936,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/1935\/revisions\/1936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/556"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=1935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=1935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=1935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}