M&A Deal Summary

Public Storage Acquires Simply Self Storage

On July 24, 2023, Public Storage acquired real estate company Simply Self Storage for 2.2B USD

Acquisition Highlights
  • This is Public Storage’s 7th transaction in the Real Estate sector.
  • This is Public Storage’s 2nd largest (disclosed) transaction.
  • This is Public Storage’s 7th transaction in the United States.
  • This is Public Storage’s 1st transaction in Florida.

M&A Deal Summary
Date 2023-07-24
Target Simply Self Storage
Sector Real Estate
Buyer(s) Public Storage
Deal Type Add-on Acquisition
Deal Value 2.2B USD

Target

Simply Self Storage

Orlando, Florida, United States
Simply Self Storage comprises of 120+ wholly-owned properties and 9 million net rentable square feet that are geographically diversified across 18 states and located in markets with population growth that has been approximately double the national average. Simply Self Storage was formed in 2003 and is based in Orlando, Florida.

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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 7 of 7
Sector (Real Estate) 7 of 7
Type (Add-on Acquisition) 5 of 5
State (Florida) 1 of 1
Country (United States) 7 of 7
Year (2023) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 all.storage

Dallas, Texas, United States

All Storage portfolio comprises 56 self-storage properties (7.5 million net rentable square feet) primarily located in the growing Dallas-Fort Worth market. All Storage was founded in 1996 and is based in Dallas, Texas.

Buy $1.5B
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