Extra Space Storage (R) Announces New Board Member

Posted on Dec 27 2013 - 4:12pm by Kim Kilpatrick

Today, Self Storage Space, Inc. announced the appointment of Diane Olmstead to the Company’s Board of Directors. Her position will be effective January 1, 2014. She will join Kenneth Woolley, Anthony Fanticola, Hugh Horne, Spencer Kirk, Joseph Margolis, Roger Porte, and Fred Sokousen on the Board.

Ms. Olmstead has a rich background of experience. She is Co-CEO of W3, which she co-founded in 2009 with Susan Sagy. (W3 is a privately owned real estate operating company and investment management company currently focused on office and office/R&D product on the West Coast.) There, she oversees W3’s acquisitions, financing activities, fundraising and client relations. She has originated and closed over $2 billion in loans, property acquisitions, and joint ventures.

Prior to founding W3, Ms. Olmstead was a principal at CIM Group. (CIM Group is an urban real estate and infrastructure investment firm.) While with the CIM Group, she opened their San Francisco office where she was over acquisitions and development in northern California and the Pacific Northwest.

Preceding her work with the GIM Group, Olmstead was an executive vice-president of iStar where she was responsible for all activities in iStar’s Western Region, including origination of structured finance transactions and acquisition of triple net lease assets.

Ms. Olmstead has also worked at Arthur Andersen LLP, USF&G Corporation, Cigna Corporation, and Aetna Inc.  Ms. Olmstead received an MBA from Pepperdine University. She serves on the board of Mercy Housing, Inc. and Synedgen, Inc. (a bio-tech company), and is a member of the Urban Land Institute and the Policy Advisory Board of the Fisher Center for Real Estate and Urban Development (U.C. Berkeley).

Extra Space Storage is headquartered in Salt Lake City, Utah, and is a fully integrated, self-administered and self-managed real estate investment trust. They are the second largest owner and/or operator of self storage properties in the United States. As of September 30, 2013, they owned and/or operated 1,007 self storage properties in 35 states, Washington, D.C., and Puerto Rico. They have approximately 667,000 units and 74 million square feet of rentable space.

They have regional offices in California, Connecticut, Florida, Maryland, Massachusetts, New Jersey, New York, and Texas. They have been in business for thirty years.

Sources Used:

“Extra Space ® Storage Announces Board Appointment.” MarketWatch; 27 December 2013.

Extra Space Self Storage.