M&A Deal Summary

Extra Space Storage and Prudential Real Estate Investors Acquire Storage USA

On May 5, 2005, Extra Space Storage and Prudential Real Estate Investors acquired real estate company Storage USA from GE Commercial Finance for 2.3B USD

Acquisition Highlights
  • This is Extra Space Storage’s 1st and Prudential Real Estate Investors’ 1st transaction in the Real Estate sector.
  • This is Extra Space Storage’s 2nd and Prudential Real Estate Investors’ 2nd largest (disclosed) transaction.
  • This is Extra Space Storage’s 1st and Prudential Real Estate Investors’ 1st transaction in the United States.
  • This is Extra Space Storage’s 1st and Prudential Real Estate Investors’ 1st transaction in Tennessee.

M&A Deal Summary
Date 2005-05-05
Target Storage USA
Sector Real Estate
Buyer(s) Extra Space Storage
Prudential Real Estate Investors
Sellers(s) GE Commercial Finance
Deal Type Divestiture
Deal Value 2.3B USD

Target

Storage USA

Memphis, Tennessee, United States
Storage USA, Inc., operating 458 self-storage properties in 31 states and Washington, D.C. Storage USA manages over 31 million net rentable square feet with nearly 250,000 tenants.

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Buyer(S) 2

Buyer

Extra Space Storage

Salt Lake City, Utah, United States
Category Company
Sector Real Estate
Employees4,781
Revenue 2.6B USD (2023)
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 1 of 4
Sector (Real Estate) 1 of 4
Type (Divestiture) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 4
Year (2005) 1 of 1
Size (of disclosed) 2 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 SmartStop Self Storage

Ladera Ranch, California, United States

SmartStop Self Storage, Inc. is a real estate investment trust.

Buy $1.4B
Buyer

Prudential Real Estate Investors

Parsippany, New Jersey, United States
Category Company
Founded 1878
Sector Real Estate
DESCRIPTION

Prudential Real Estate Investors, is the real estate investment management business specialized operating units offer a broad range of investment opportunities and investment management services in the United States, Europe, Asia, and Latin America.

DEAL STATS #
Overall 1 of 2
Sector (Real Estate) 1 of 2
Type (Divestiture) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 2
Year (2005) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-31 Pan Pacific Retail Properties

Vista,, California, United States

Pan Pacific Retail Properties Inc. a real estate investment trust (REIT), engages in the ownership, management, and lease of neighborhood and community shopping centers primarily in the western United States.

Buy $4.1B

Seller(S) 1

SELLER

GE Commercial Finance

Norwalk, Connecticut, United States
Category Company
Sector Financial Services
DESCRIPTION

GE Commercial Finance, a financial service company.

DEAL STATS #
Overall 1 of 2
Sector (Real Estate) 1 of 1
Type (Divestiture) 1 of 2
State (Tennessee) 1 of 1
Country (United States) 1 of 2
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-25 Inner City Broadcasting

New York, New York, United States

Inner City Broadcasting Corp. is a radio broadcasting company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-22 Inner City Broadcasting

New York, New York, United States

Inner City Broadcasting Corp. is a radio broadcasting company.

Sell -
Mergr

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