Public Storage completed the acquisition of Simply Self Storage from BREIT for $2.2bn.

Transaction 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.

Sources