Day: March 5, 2025

Extra Space Storage Celebrates 4,000 Stores Milestone in the United States

Extra Space Storage, Inc., (NYSE:EXR) the largest operator of self storage properties in the U.S., announced a significant milestone for the company as they celebrate reaching over 4,000 stores nationwide. Extra Space has more than doubled its store count since 2021. “This achievement is a testament to the company’s steady growth and resiliency of the self storage sector,” said Joe Margolis, CEO. “Reaching 4,000 stores isn’t just about the number – it’s about the people who made this growth happen. Our team’s focus on sustainable, strategic, and accretive growth ensures…

PSRS Arranges Bridge Loan for Self-Storage Facility Conversion in Los Angeles, CA

The borrower plans to convert a vacant 150,000-square-foot flex property in Los Angeles into a self-storage facility. PSRS has arranged a $38.2 million bridge loan to convert a vacant approximately 150,000-square-foot flex property in Los Angeles into a self-storage facility. Jonny Soleimani and George Gianoukakis of PSRS secured the financing for the undisclosed borrower. The financing included a $12.8 million cash-out refinance, fully funded construction costs and an 18-month interest reserve, providing the borrower with the capital needed for the successful repositioning of the asset. Source