Public Storage Inc. said that its Shurgard Europe self-storage business has paid more than $238 million to acquire all of two joint ventures that operate in several European countries.
The acquired ventures own 72 self-storage facilities in seven countries, according to Glendale-based Public Storage, which provided the money for the acquisition. Shurgard had owned a 20 percent interest in the ventures.
Public Storage has interests in 2,048 self-storage facilities in 38 states, and 189 Shurgard storage facilities in Western Europe. The company also owns a 41-percent common equity interest in office and industrial space landlord PS Business Parks Inc.
The announcement was made late Wednesday. Public Storage shares on Thursday closed up $1.42, or 1 percent, to $110.50 on the New York Stock Exchange.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Public Storage's Sell-Off in Europe Feeds U.S. Focus
- Shurgard Plans $1 Billion IPO
- Public Storage Announces Details of Sale
- Public Storage Spins Sale of European Unit as Stock Spikes
- News of the Week
- Public Storage Buys SoCal Facilities
- Shurgard Withdraws Brussels IPO
- Public Storage Bears Down on Shurgard to Force Acquisition