6/21/2018 | By Nareit Staff
Arlen Nordhagen, chairman, president, and CEO of National Storage Affiliates (NYSE: NSA), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Nordhagen attributed the company’s record-setting acquisitions pace in 2018 to the fact that the company has nine different acquisition teams in the field. Each team is closely attuned to opportunities within its own region, and that has led to “a lot of leads,” he said. Nordhagen expects the current pace to continue for the rest of the year.
Turning to supply and demand matters, Nordhagen said that while the REIT does have some markets that are struggling, “overall, we’re less exposed than most of our peers.” He noted that only about 30 percent of the portfolio has any new competition within a five-mile radius.
Nordhagen stressed the importance of the supply/demand balance when developing revenue management pricing algorithms. “That’s probably the most important thing we try to do,” he said.