Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
STAMFORD, Conn. (AP) -- G-E Commercial Finance has agreed to sell Storage U-S-A for two-point-three (B)billion dollars in cash to a joint venture of Salt Lake City-based Extra Space Storage Incorporated and Prudential Real Estate Investors.
The agreement is expected to close in the third quarter of 2005, subject to customary closing conditions.
Storage U-S-A is a self-storage company with more than 450 properties in 30 states and the District of Columbia.
Extra Space Storage is a publicly traded real estate investment trust that owns and operates 148 self-storage properties in 20 states. Prudential Real Estate Investors is the real estate investment and advisory business of Prudential Financial Incorporated.
(Copyright 2005 by The Associated Press. All Rights Reserved.)
