Announced
Completed
Financials
Tags
storage properties
Storage Terminals
Acquisition
Infrastructure
United States
Private
Friendly
Domestic
Completed
Majority
Single Bidder
Synopsis
Extra Space Storage, a real estate investment trust, completed the acquisition of Storage Express, a company that owns 107 remote storage properties, for $590m. "We are excited about the merger of these two great companies and the expansion of our national portfolio and operating platform. In addition to increased scale, this acquisition provides a new growth channel for Extra Space Storage to add smaller, remote-managed stores in both new and existing markets through acquisition and third-party management. I want to thank the employees of both companies for their hard work and strong execution on this transaction," Joe Margolis, Extra Space Storage CEO.
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