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Extra Space Storage Acquires Life Storage: What This $12.7 Billion Deal Means for Investors

Liz Brumer-Smith, The Motley Fool
·3-min read
Extra Space Storage Acquires Life Storage: What This $12.7 Billion Deal Means for Investors

For nearly 20 years, Public Storage has held the title of being the largest publicly traded self-storage real estate investment trust (REIT). On April 3, Extra Space Storage (NYSE: EXR) said its agreed to acquire Life Storage (NYSE: LSI) in an all-stock transaction valued at $12.7 billion. This deal will make Extra Space Storage the largest self-storage operator by facility count and will increase its portfolio of self-storage properties by more than 50%.

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