Extra Space Storage Acquires SmartStop in a Deal Worth $1.31B

LADERA RANCH, CA—Extra Space Storage Inc., a leading owner and operator of self-storage properties, has completed its acquisition of SmartStop Self Storage, Inc. a public, non-traded REIT.

As a result of the SmartStop acquisition, Extra Space acquired 122 stores and assumed the property management of 43 stores previously managed by SmartStop. “We are excited about the merger of these two great companies and the expansion of our national portfolio and operating platform,” said Spencer Kirk, CEO of Extra Space Storage. “The additional scale increases our presence in existing markets, and should enhance our ability to source customers online.”