Announced
Completed
Financials
Tags
United States
self-storage
Storage Facilities
Acquisition
Private
Private Equity
Majority
Domestic
Friendly
Single Bidder
Completed
Synopsis
Public Storage, an American international self storage company headquartered in Glendale, California, completed the acquisition of Simply Self Storage, a privately owned self-storage company in the United States, from BREIT, a real estate investment trust company, for $2.2bn. "We are pleased to welcome Simply’s team, customers, and third-party management partners to Public Storage’s industry-leading brand and platform. This acquisition reflects the continued execution of our multi-factor external growth platform, which includes acquisitions, development, redevelopment, expansion, and third-party management. We are pleased to complete this important transaction with Blackstone, which further demonstrates our position as an acquirer of choice in the industry. Blackstone has done a tremendous job of growing and improving the quality and operations of the Simply portfolio over the past few years," Joe Russell, Public Storage CEO.
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