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169 Storage Centres Trade in $1.4 Billion Transaction
Clearly the largest self storage transaction in over 10 years, Extra Space have agreed to acquire the SmartStop Self Storage Portfolio in the U.S.A.
Comprising 169 locations across 21 U.S. states and Toronto Canada. Extra Space will pay $1.29 billion (USD), with the balance of the proceeds coming from surplus asset disposal. 121 locations are fully owned while another 43 are managed properties. Extra Space will assume management of these. 5 locations will be sold by SmartStop separately.
The acquisition is said to be accretive to Extra Space funds from operations (FFO) and with an annual dividend yield of just 2.8% this should not be too difficult.
SmartStop is the 7th largest self storage owner in the U.S.A.
After the acquisition Extra Space will boast over 1,200 storage centres, with a market capitalisation of over $7.6 billion.
Self storage trading performance has been exceptional in the U.S.A. in recent years with all four established Storage REIT’s occupancies exceeding 90% in the first quarter of 2015.
Kennards Self Storage
As a proud Family Business you can feel comfortable in storing with People Who Care. We have storage locations everywhere! And space for everyone! Personal and Business Space, Wine Cellars, RV and Boat, Gun Storage and Deposit Boxes. Keep it at Kennards, the People Who Care!
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Are you in need of extra space to store your belongings? Look no further than Kennards Self Storage, the newest addition to the Pakenham community!
If you’re looking for an affordable self storage solution in Melbourne’s Northern Suburbs, you’re sure to find the right storage solution at an affordable price; it might even be the cheapest storage solution available in Melbourne’s Northern Suburbs.
No matter what the reason is, everyone needs extra space at some point. The ease of storing your goods are facilitated by the self storage industry. They offer storers a secure and well managed space to store valuables