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Public Storage Pays $238M to Acquire Interest in European Self-Storage Joint Ventures

Public Storage Inc., a self-storage real estate investment trust and owner of the European joint venture Shurgard Europe, paid $238.4 million to acquire the 80 percent interests it did not already own in two joint ventures.

Public Storage Inc., a self-storage real estate investment trust and owner of the European joint venture Shurgard Europe, paid $238.4 million to acquire the 80 percent interests it did not already own in two joint ventures.

The acquired ventures own 72 self-storage facilities totaling 3.8 million square feet of storage space in the seven countries in which Shurgard Europe operates. The company has about 10 million net rentable square feet operating under the Shurgard brand.

Headquartered in Glendale, Calif., Public Storage has interests in 2,048 self-storage facilities in 38 states with approximately 129 million net rentable square feet in the United States.

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