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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