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Simply Self Storage Continues Texas Expansion with Acquisition of Storage Choice Portfolio

·3 min read

Portfolio Includes Fourteen Institutional Quality Properties Across Dallas and Houston

Properties Total More than One Million Net Rentable Square Feet with Strong and Growing Occupancy

Acquisition Brings Significant Market Share Supported by Strong Demographics and Established Consumer Bases

ORLANDO, Fla., Nov. 18, 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 14-property self-storage portfolio in the Dallas and Houston metropolitan areas. This strategic acquisition expands Simply Self Storage's presence in Texas' most attractive submarkets, where the Company now owns 29 institutional quality self-storage properties. Financial terms of this transaction were not disclosed.

The portfolio of 14 Storage Choice properties comprises 9,878 units with over one million net rentable square feet, of which 633,058 square feet contain climate-controlled space. Each property serves densely populated and continuously growing areas, with established consumer bases and record, rising occupancy levels. Storage Choice was represented by Newmark Group, Inc., led by Aaron Swerdlin and Kenneth Cox.

"This acquisition expands our presence within two of the most economically active and thriving metros in the U.S.," said Kyle Schmutzler, CEO of Simply Self Storage. "With our best-in-class platform, we are focused on providing high-quality and increasingly diversified storage solutions to meet the latest needs of our customers in the markets where our services are needed."

"Houston and Dallas continue to experience tremendous growth, and these properties are experiencing strong consumer demand levels that have shown strength year-over-year," said Scott Levy, Executive Vice President, Investments at Simply Self Storage. "The increasing demand that we continue to experience in these markets shows the growth opportunity that exists within Texas as well as the value proposition we provide to our customers."

Simply Self Storage operates a portfolio of approximately 80,000 units, encompassing more than 12 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.

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 12 million square feet of self-storage space.

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

Contact

Simply Self Storage
Karen Walch
(407) 248-7878
kwalch@simplyss.com

Cision
Cision

View original content:https://www.prnewswire.com/news-releases/simply-self-storage-continues-texas-expansion-with-acquisition-of-storage-choice-portfolio-301428035.html

SOURCE Simply Self Storage