Barker Pacific Buys Self-Storage Facility

LAKE ELSINORE, CA-Barker Pacific Group of Los Angeles has acquired a100,000-square-foot, 600-unit self-storage property called Elsinore Valley Self Storage from DGS Development Partners for $5.28 million. Barker Pacific acquired the self-storage and RV storage facility in this Western Riverside County city through an affiliate, Union Development Co.

The newly acquired store will be re-branded to the company’s self-storage portfolio name of Storage Solutions. The transaction brings BPG/UDC’s total number of Storage Solutions stores to 19 serving the Southern California markets of Los Angeles, Orange, Santa Barbara, Riverside, and San Bernardino counties.

Barker Pacific Group was founded more than 25 years ago to specialize in the development and acquisition of institutional quality office, retail, and residential projects in select US cities. Storage Solutions is the self-storage division of Union Development Co., which has been developing real estate in Southern California for more than 100 years.

The firm holds more than 1.7 million square feet of property in its portfolio including retail shopping centers, industrial parks, and self-storage facilities and RV 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.