Public Storage Acquires ezStorage for USD 1.8bn.
MANews-(C)2009-2021
US-based self-storage properties company Public Storage (NYSE: PSA) has acquired US-based 48-property self-storage portfolio ezStorage for USD 1.8bn, the company said.
The company plans to fund the acquisition with unsecured debt. The transaction will be immediately accretive to FFO following an anticipated closing in May 2021.
The portfolio comprises 4.2m of net rentable square feet located in submarkets with strong demand drivers and high barriers for new property development across Washington DC, Virginia and Maryland.
Public Storage's development team...
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