Extra Space Storage buys 28 properties for $190 million
Extra Space Storage Inc., a Salt Lake City real estate investment company, said during the fourth quarter of last year it spent approximately $190 million to buy 28 self-storage properties.
The properties were located in California, Florida, Illinois, Massachusetts, New Jersey, New York and Rhode Island.
Spencer F. Kirk, chairman and CEO, said the acquisitions demonstrate the company continues to be a disciplined buyer of assets.
For the full year ended Dec. 31, 2011, the company acquired a total of 55 properties located in 17 states for approximately $289.6 million, he said.
Kirk added of the 28 properties purchased during the fourth quarter that 19 properties were from the previously announced acquisition of a portfolio located in California. An additional portfolio of six properties was purchased from a joint venture in which the company held a 10 percent equity interest.
Extra Space Storage’s shares are listed on the New York Stock Exchange under the symbol EXR.
(via the Salt Lake Tribune)]]>