Posted at 9:49 a.m., Tuesday, June 19, 2007
Utah firm revises terms to buy local storage facilities
Advertiser Staff
Utah-based self-storage firm Extra Space Storage Inc. has revised an agreement to buy two AAAAA Rent-A-Space facilities in Hawai'i.The purchase agreement, initially made in December, is still expected to close by the end of the month.
Extra Space's acquisition is part of a larger deal for 11 self-storage properties in California being bought from various limited partnerships.
The original $150 million deal for 13 storage facilities was structured as a mostly cash purchase. Now the purchase is being made with mostly preferred stock in publicly traded Extra Space.
