W. P. Carey Inc. (NYSE: WPC), a publicly traded net lease real estate investment trust and sponsor of non-traded REITs, has hired Brian Boulter as director of self-storage. In his new role, Boulter will be responsible for overseeing the management of W. P. Carey’s existing self-storage portfolio on its non-traded REITs, CPA:17 – Global and CPA:18 – Global.
“Brian brings a strong background in both self-storage acquisitions and asset management to W. P. Carey,” said Jason Fox, president of W. P. Carey. “His experience in both of these areas positions him well to manage our existing portfolio activities on behalf of our managed REITs. We are pleased to have Brian join our self-storage team and welcome him to W. P. Carey.”
Mr. Boulter joins W. P. Carey from Wasatch Storage Partners LLC where he served as vice president – business development. Prior to joining Wasatch Storage Partners, he was director of real estate acquisitions at Extra Space Storage, Inc.
During his seven-year tenure at Extra Space Storage, he also served as national procurement manager with responsibilities including the oversight of feasibility and budgetary analysis, contract negotiations and expense management. Prior to Extra Space Storage, he was senior asset/property manager at Westfield Properties Inc. of Salt Lake City.
Boulter holds a master’s degree in real estate from New York University and a bachelor’s degree from Brigham Young University.
W. P. Carey has been investing in the self-storage sector for more than 11 years, having completed its first investment in the asset class with the $298 million net lease sale-leaseback of 78 U-Haul facilities in 2004. In 2016, through its managed non-traded REITs, W. P. Carey completed self-storage transactions totaling approximately $385 million.
W. P. Carey had an enterprise value of approximately $10.5 billion, as of the fourth quarter of 2016. The company’s non-traded publicly-registered and private investment programs have approximately $12.9 billion in assets under management.