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Stock impact report

Public Storage Announces Closing Of The All Storage Acquisition Amid Significant Growth Acceleration [TheStreet.com]

Public Storage (PSA) 
Last public storage earnings: 4/30 04:00 pm Check Earnings Report
Company Research Source: TheStreet.com
Public Storage ( ) -, the leading owner, acquirer, developer, and operator of self-storage properties, announced today that it has closed on the acquisition of All Storage, a high-quality self-storage portfolio, for $1.5 billion. The transaction adds 56 self-storage properties (7.5 million net rentable square feet) primarily located in the growing Dallas-Fort Worth market. The 52 properties in Dallas-Fort Worth add prominent locations in new, high-growth submarkets in addition to complementary locations in Public Storage's existing submarkets. With the addition of the portfolio and additional properties recently closed or under contract, the Company's Dallas-Fort Worth presence is unmatched in coverage and quality, with nearly 200 locations and 17 million net rentable square feet. "Dallas-Fort Worth's business, consumer, and resident friendly nature drives strong demographic and economic growth that generates outsized demand for self-storage," said Mike McGowan, Public Storage's Sen Show less Read more
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