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Divestiture • Real Estate

The Storage Acquisition Group Acquires Extra Space Storage - Surfside

On August 31, 2021, The Storage Acquisition Group acquired real estate company Extra Space Storage - Surfside from Extra Space Storage

Acquisition Context
  • This is The Storage Acquisition Group’s 1st transaction in the Real Estate sector.
  • This is The Storage Acquisition Group’s 1st transaction in the United States.
  • This is The Storage Acquisition Group’s 1st transaction in South Carolina.

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M&A Deal Summary
Date August 31, 2021
Target Extra Space Storage - Surfside
Sector Real Estate
Buyer(s) The Storage Acquisition Group
Sellers(s) Extra Space Storage
Deal Type Divestiture

Target Company

Extra Space Storage - Surfside

Surfside Beach, South Carolina, United States
Extra Space Storage's Surfside offers 60,295 net rentable square feet across 647 units. The facility offers both climate and non-climate-controlled space, 58 parking spaces, and is conveniently located on 6.39 acres of land. Extra Space Storage's Surfside is based in Surfside Beach, South Carolina.
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Buyer Overview 1

Buyer

The Storage Acquisition Group

Yorktown, Virginia, United States
Category Company
Sector Real Estate
DESCRIPTION

The Storage Acquisition Group specializes in purchasing storage facilities and portfolios nationwide. With their four-tiered approach, Market Analysis, Acquisitions, Underwriting, & Closing Support, The Storage Acquisition Group is able to help owners navigate a simple sales process while netting the highest possible profit. The Storage Acquisition Group is based in Yorktown, Virginia.

Deal Context for Buyer #
Overall 1 of 1
Sector: Real Estate 1 of 1
Type: Divestiture 1 of 1
State: South Carolina 1 of 1
Country: United States 1 of 1
Year: 2021 1 of 1

Seller Profile 1

SELLER

Extra Space Storage

Salt Lake City, Utah, United States
Category Company
Founded 1977
Sector Real Estate
Employees8,012
Revenue 3.3B USD (2024)
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 was founded in 1977 and is based in Salt Lake City, Utah.

Deal Context for Seller #
Overall 1 of 1
Sector: Real Estate 1 of 1
Type: Divestiture 1 of 1
State: South Carolina 1 of 1
Country: United States 1 of 1
Year: 2021 1 of 1
PREVIOUS 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
FOLLOWING 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

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