All Aboard Mini Storage Sells Self-Storage Portfolio for $195.1 Million to Extra Space Storage

Posted by MiniCo on Sep 13, 2013 12:00:00 AM

All Aboard Mini Storage Sells Self-Storage Portfolio for $195.1 Million to Extra Space Storage

Solana Beach-based All Aboard Mini Storage has sold a 19-building portfolio of self-storage buildings to Extra Space Storage Inc. of Salt Lake City, in a deal valued at approximately $195.1 million, according to CoStar Group and public data.

The properties are located throughout California, including a building at 3808 Cedar St. in San Diego. The 131,000-square-foot storage facility was built in 1982 and sold for an allocated price of approximately $14 million.

The deal was primarily a stock transaction, in which the buyer will issue shares in exchange for partnership units. The buyer plans to renovate the acquired buildings.

In its own statement, Extra Space Storage said its acquisition of one additional property in the All Aboard portfolio is expected to occur by the end of the year, for approximately $11 million. The 20 properties have a total of 14,800 storage units.

About Extra Space Storage

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a fully integrated, self-administered and self-managed real estate investment trust that owns and/or operates 900 self-storage properties in 38 states and Washington, D.C. The Company’s properties comprise approximately 550,000 units and over 59 million square feet of rentable space, offering customers a wide selection of conveniently located and secure storage solutions across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States. For more information, please visit: