M&A Deal Summary

Extra Space Storage Acquires Life Storage

On April 3, 2023, Extra Space Storage acquired real estate company Life Storage for 12.7B USD

Acquisition Highlights
  • This is Extra Space Storage’s 4th transaction in the Real Estate sector.
  • This is Extra Space Storage’s largest (disclosed) transaction.
  • This is Extra Space Storage’s 4th transaction in the United States.
  • This is Extra Space Storage’s 1st transaction in New York.

M&A Deal Summary
Date 2023-04-03
Target Life Storage
Sector Real Estate
Buyer(s) Extra Space Storage
Deal Type Merger
Deal Value 12.7B USD
Advisor(s) Wells Fargo Securities
BofA Securities (Financial)
Hogan Lovells
Quinn Emanuel Urquhart & Sullivan (Legal)

Target

Life Storage

Williamsville, New York, United States
website
Life Storage is a self-administered and self-managed real estate investment trust (REIT) focused on self-storage facilities. Life Storage was originally known as Sovran Self Storage.

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Buyer(S) 1

Buyer

Extra Space Storage

Salt Lake City, Utah, United States

website

Category Company
Sector Real Estate
Employees4,781
Revenue 1.9B USD (2022)
DESCRIPTION

Extra Space Storage is a fully integrated, self-administered and self-managed real estate investment trust. Extra Space a national owner, developer, acquirer and operator of professionally managed self-storage properties. Extra Space Storage is based in Salt Lake City, Utah.

DEAL STATS #
Overall 4 of 4
Sector (Real Estate) 4 of 4
Type (Merger) 1 of 1
State (New York) 1 of 1
Country (United States) 4 of 4
Year (2023) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-16 Storage Express

Bloomington, Indiana, United States

Storage Express owns 107 remote storage properties across Indiana, Ohio, Illinois and Kentucky. Storage Express is headquartered in Bloomington, Indiana.

Buy $590M
Mergr

Product

Company

Legal