Public Storage buys 56 self-storage properties for $1.5 billion

Industry:    2021-11-02

Public Storage said on Monday it bought 56 self-storage properties mainly in the Dallas-Fort Worth region from All Storage for $1.5 billion.

The purchase, funded by unsecured debt, would immediately add to Public Storage’s funds from operations – a measure of cash flow.

Self-storage companies rent storage space to people.

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