Sheppard Mullin Real Estate Team Represents Public Storage in $2.2 Billion Acquisition of Simply Self Storage Portfolio
Sheppard Mullin represented Public Storage (NYSE: PSA) in connection with the real estate due diligence for its acquisition of the Simply Self Storage (“Simply”) portfolio from Blackstone Real Estate Income Trust, Inc. (“BREIT”) for $2.2 billion. The portfolio consisted of 127 wholly-owned properties and 9 million net rentable square feet across 18 states. Approximately 65% of the properties are located in high-growth Sunbelt markets, allowing our client to deepen its presence in fast-growing markets.
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The Sheppard Mullin deal team was led by Domenic Drago and Michael Leake, with invaluable support by Rabia Chaudhry, Aaron Duffy, Meigan Everett, David Gao, Jordan Golden, Eli Griffen, Talya Gulezyan, Drew Karlberg, Amanda Lee, Sean Maffett, Lauren Stewart, Marko Valentine, Marcos Getchell and Allyson Zaky.