Public Storage buys All Storage’s portfolio for $1.5b

Public Storage has purchased the high-quality All Storage portfolio for $1.5 billion.

The portfolio comprises 56 self-storage properties (7.5 million net rentable square feet) primarily located in the growing Dallas-Fort Worth market. The 52 properties in Dallas-Fort Worth add prominent locations in new, high-growth submarkets in addition to complementary locations in Public Storage’s existing submarkets. With the addition of the acquisition properties, the company’s Dallas-Fort Worth portfolio will be unmatched in coverage and quality, with 172 locations and 15.5 million net rentable square feet. The additional properties are located in Oklahoma City (three), and Killeen, Texas (one).