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Announced

Completed

Extra Space Storage completed the acquisition of Life Storage for $12.7bn.

Financials

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Transaction Value£10,299m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Friendly

Other Specialty REITs

storage facilities

real estate investment trust

equity REIT

United States

Single Bidder

Domestic

Public

Majority

Completed

Synopsis

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Extra Space Storage, a real estate investment trust headquartered in Cottonwood Heights, Utah, completed the acquisition of Life Storage, a real estate investment trust headquartered in Williamsville, New York, for $12.7bn. "We are prepared for the smooth integration of Life Storage, and we believe this combination gives the combined company an even more formidable portfolio, team, and platform, with over 3.5k stores across 43 states. We are confident we will achieve at least $100m in underwritten annual run-rate synergies, and that we will unlock additional synergies resulting from our increased scale," Joe Margolis, Extra Space Storage CEO.

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