Extra Space Storage Acquires Storage Express for $590M
September 16, 2022
Extra Space Storage (NYSE: EXR) completed the acquisition of multiple entities doing business as Storage Express—adding 107 remote-managed self-storage properties across Indiana, Ohio, Illinois and Kentucky—for approximately $590.0 million. The deal also included the purchase of the E-Tracker operating software platform and adds 14 future development sites; Storage Express founder Jefferson Shreve was appointed to Extra Space's board following the transaction.
- Buyers
- Extra Space Storage Inc.
- Targets
- Storage Express
- Sellers
- Storage Express, Jefferson Shreve
- Industry
- Real Estate
- Location
- Indiana, United States
- Transaction Type
- Buyout
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