{"id":1004487163,"date":"2020-10-26T05:09:05","date_gmt":"2020-10-26T13:09:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004487163"},"modified":"2025-02-26T06:20:59","modified_gmt":"2025-02-26T14:20:59","slug":"blackstone-to-pay-1-2b-for-simply-self-storage","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-to-pay-1-2b-for-simply-self-storage\/","title":{"rendered":"Blackstone to Pay $1.2B for Simply Self Storage"},"content":{"rendered":"
\"\"<\/a>

Image by Paul Brennan via Pixabay.com<\/i><\/p><\/div>\n

Blackstone Real Estate Income Trust has agreed to pay Brookfield Asset Management $1.2 billion to acquire Simply Self Storage. The investor plans to close the deal later in the fourth quarter of this year.<\/p>\n

The deal comes nearly five years after Brookfield\u2019s $830 million purchase of the company in early 2016. Since that acquisition, Brookfield has doubled the firm\u2019s size.<\/p>\n

Simply Self Storage\u2019s portfolio includes more than 100 properties encompassing upward of 8 million square feet. The majority of the company\u2019s assets are located in the eastern half of the U.S., though the firm also owns and manages a handful of facilities in the Los Angeles and Seattle metro areas, according to Yardi Matrix.<\/p>\n

Blackstone\u2019s buy adds to its existing self storage portfolio, valued at $300 million. Most of its current assets operate under the Storage King USA brand.<\/p>\n

The private equity firm\u2019s BREIT vehicle targets longer-term, income-oriented properties. In September, the fund announced plans to acquire a $550 million manufactured housing portfolio<\/a>. Most of the 40 parks are located in Florida.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company last traded in 2016, when Brookfield Asset Management acquired it for $830 million.<\/p>\n","protected":false},"author":861,"featured_media":1004487172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,23891,21742],"tags":[33496,32900,33129],"class_list":["post-1004487163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-national","category-latest","tag-brookfield-asset-management","tag-simply-self-storage","tag-the-blackstone-group"],"acf":[],"yoast_head":"\nBlackstone to Pay $1.2B for Simply Self Storage - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-to-pay-1-2b-for-simply-self-storage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone to Pay $1.2B for Simply Self Storage\" \/>\n<meta property=\"og:description\" content=\"The company last traded in 2016, when Brookfield Asset Management acquired it for $830 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blackstone-to-pay-1-2b-for-simply-self-storage\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-26T13:09:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T14:20:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/10\/Photo-by-Paul-Brennan-via-Pixabay.com_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-to-pay-1-2b-for-simply-self-storage\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-to-pay-1-2b-for-simply-self-storage\/\",\"name\":\"Blackstone to Pay $1.2B for Simply Self Storage - 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