January 12, 2024

1 Min Read

Representatives from Extra Space Storage Inc., a self-storage real estate investment trust (REIT) and third-party management firm, rang the closing bell at the New York Stock Exchange on Jan. 9 to celebrate completing its merger with fellow REIT Life Storage Inc. last year. Company CEO Joe Margolis was joined by board members, leaders and employees for the event, according to a press release.

“It was great to celebrate our teams’ success in closing a transformative merger that will create significant value for our shareholders, and to celebrate the progress we have made in integrating the two companies,” Margolis said. “I wish there was room on the podium for the 7,300 teammates who worked hard and sacrificed to make this a reality. I want to congratulate and thank the whole team for their above-and-beyond efforts.”

Headquartered in Salt Lake City, the combined company creates the largest operator in the self-storage industry, with more than 3,500 locations comprising about 270 million rentable square feet. It has an enterprise value of approximately $46 billion. It operates facilities under the Extra Space, Life Storage and Storage Express brand names nationwide.

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