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Classified in: Business
Subject: RLE

Simply Self Storage Accelerates Portfolio Growth with Strategic Acquisition of Eight Texas Properties


ORLANDO, Fla., Oct. 6, 2021 /PRNewswire/ -- Simply Self Storage (the "Company"), a premier provider of storage solutions for a wide range of customer needs, today announced the acquisition of a seven-property self-storage portfolio in Houston and a self-storage property in Dallas. Financial terms of these transactions were not disclosed.

Simply Self Storage owns and operates a portfolio of approximately 80,169 units, encompassing more than 11 million net rentable square feet in 23 states. Its customers benefit from a leading suite of customizable solutions to address a broad range of storage requirements and preferences through its data-driven and technology-enabled management platform. Simply Self Storage is continuing to invest and expand its presence in high-growth markets that benefit from positive, long-term demographic trends.

"We are pleased to complete these acquisitions and expand Simply Self Storage's offerings within the Houston and Dallas markets," said Kyle Schmutzler, CEO of Simply Self Storage. "The importance of a customer-centric approach has increased significantly in today's environment, and our platform is uniquely suited to meet these needs with high-quality, diversified storage options."

"Houston and Dallas represent two of the most attractive submarkets in Texas, and we expect each will continue to benefit from strong consumer demand," said Scott Levy, Executive Vice President, Investments at Simply Self Storage. "This is an exciting step in our continued efforts to accelerate Simply Self Storage's national growth and bring the unmatched quality we are known for to a wider range of customers."

Comprising seven facilities totaling nearly 620,000 net rentable square feet across more than 3,600 units, the Houston portfolio includes more than 207,000 square feet of climate-controlled space. Each of the seven facilities are highly visible, easily accessible and prominently located within some of the highest growth areas of the Houston market, which continues to benefit from an established consumer base and record high occupancy levels.

The Dallas property consists of 65,950 net rentable square feet. The property is centrally located in a mature residential community with excellent freeway visibility and population density and will benefit from strong demographic tailwinds.

About Simply Self Storage

Since 2003, Simply Self Storage has embarked on a continual journey to make the self-storage experience as simple as possible, while providing a wide range of convenient and secure storage units that serve both personal and business customers.

Simply Self Storage properties provide greater control over where and how people store their belongings, with the necessary flexibility to meet each individual need. As a national provider of self-storage, Simply Self Storage is proud of the product provided and the service from highly trained employees.

Simply Self Storage, a Blackstone portfolio company, offers all types of clean, safe, and stress-free options for storing belongings with facilities across the country and over 11 million square feet of self-storage space.

For more information, please visit www.simplyss.com.

Contact
Karen Walch
(407) 248-7878
[email protected]

SOURCE Simply Self Storage


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News published on 6 october 2021 at 13:30 and distributed by: