Self-storage real estate investment trust Extra Space Storage Inc. acquired 28 self-storage properties for $189.9 million during the fourth quarter of 2011.
The properties are in California, Florida, Illinois, Massachusetts, New Jersey, New York and Rhode Island. Of the 28 properties purchased, 25 came from two separate portfolios. Nineteen properties were from the previously announced acquisition of a portfolio in California. An additional portfolio of six properties was purchased from a joint venture in which Extra Space Storage held a 10 percent equity interest.
In 2011, Extra Space Storage acquired a total of 55 properties in 17 states for approximately $289.6 million.
"Extra Space Storage is a growth-oriented company and these acquisitions demonstrate that we continue to be a disciplined buyer of assets that enhance our best-in-class portfolio,” said CEO Spencer F. Kirk. “We are excited by the quality, location and growth potential of the acquisitions we made in 2011."
Headquartered in Salt Lake City, Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust. The company owns or operates 882 self-storage properties in 34 states and Washington, D.C.