Extra Space Storage® Announces $200 Million Portfolio Acquisition

Posted by MiniCo on Jan 9, 2014 12:00:00 AM

Extra Space Storage® Announces $200 Million Portfolio Acquisition

Extra Space Storage Inc. (NYSE: EXR)  announced today the acquisition of a self storage portfolio of 17 assets located in Virginia for an approximate purchase price of $200 million.  In addition, the Company has an additional five properties under contract for an approximate purchase price of $58.0 million.

For the full year ending December 31, 2013Extra Space Storage acquired a total of 78 properties for approximately $586.0 million.

Spencer F. Kirk, the Company’s Chairman and Chief Executive Officer, stated, “Extra Space Storage is a growth-oriented company and the addition of these assets to our portfolio will continue to allow us to provide strong returns to our shareholders. We are excited by the quality, location and growth potential of the acquisitions we made in 2013.”

About Extra Space Storage Inc.

Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust.  As of December 31, 2013, the Company owned and/or operated 1,029 self-storage properties in 35 states, Washington, D.C. and Puerto Rico. The Company’s properties comprise approximately 680,000 units and approximately 75.7 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, visit www.extraspace.com.

(via PRNewswire)