Public Storage Acquires ezStorage for $1.8 Billion
April 13, 2021
Public Storage (NYSE: PSA) acquired ezStorage’s 48-property self-storage portfolio for $1.8 billion, adding approximately 4.2 million net rentable square feet across Washington, D.C., Virginia and Maryland. The transaction expands Public Storage’s Mid‑Atlantic coverage and was funded with unsecured debt; the company indicated the deal would be immediately accretive to FFO with an anticipated closing in May 2021.
- Buyers
- Public Storage
- Targets
- ezStorage
- Sellers
- Manganaro family
- Industry
- Real Estate
- Location
- Maryland, United States
- Transaction Type
- Buyout
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