SUBSCRIBERS
US self-storage Reit Extra Space to buy peer for US$1.4b
Published Tue, Jun 16, 2015 · 09:50 PM
Los Angeles
EXTRA Space Storage Inc agreed to buy SmartStop Self Storage Inc, a California-based non-traded real estate investment trust, for about US$1.4 billion to expand its property holdings as the self-storage industry grows.
Extra Space will pay US$1.29 billion, with the remaining US$120 million coming from SmartStop's sale of a California property and interests in seven locations, according to a statement on Monday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co