M&A Deal Summary

Public Storage Acquires Shurgard Storage Centers

On August 22, 2006, Public Storage acquired real estate company Shurgard Storage Centers for 5.5B USD

Acquisition Highlights
  • This is Public Storage’s 1st transaction in the Real Estate sector.
  • This is Public Storage’s largest (disclosed) transaction.
  • This is Public Storage’s 1st transaction in the United States.
  • This is Public Storage’s 1st transaction in Washington.

M&A Deal Summary
Date 2006-08-22
Target Shurgard Storage Centers
Sector Real Estate
Buyer(s) Public Storage
Deal Type Add-on Acquisition
Deal Value 5.5B USD
Advisor(s) Citigroup Investment Banking
BofA Securities (Financial)
Willkie Farr & Gallagher
Perkins Coie (Legal)

Target

Shurgard Storage Centers

Seattle, Washington, United States
Shurgard Storage Centers, Inc.provides self-storage real estate investment trust.

Search 201,429 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Public Storage

Glendale, California, United States
Category Company
Founded 1971
Sector Real Estate
Employees6,200
Revenue 4.5B USD (2023)
DESCRIPTION
Public Storage's corporate headquarters in Glendale, California.
Public Storage's corporate headquarters in Glendale, California.

Public Storage is a real estate investment trust. Public Storage acquires, develops, owns, and operates self-storage facilities which offer storage spaces for lease on a month-to-month basis, for personal and business use. Public Storage also offers reinsure policies against losses to goods stored by customers in its self-storage facilities, sells merchandise at its self-storage facilities and manages self-storage facilities owned by third-party owners. Public Storage was founded in 1971 and is based in Glendale, California.

DEAL STATS #
Overall 1 of 7
Sector (Real Estate) 1 of 7
Type (Add-on Acquisition) 1 of 5
State (Washington) 1 of 1
Country (United States) 1 of 7
Year (2006) 1 of 1
Size (of disclosed) 1 of 6
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-08 Morningstar Properties - 43 Sites

United States

The properties involved comprise more than 2.9 million square feet in Morningstar Mini-Storage branded sites located in North Carolina, South Carolina, Texas, Virginia and Georgia.

Buy $315M
Mergr

Product

Company

Legal