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

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.