Holland & Hart Helps Storage REIT In $298M Partner Buyout

Law360, New York (April 17, 2012, 1:35 PM EDT) -- Extra Space Storage Inc., the second-largest owner of self-storage units in the U.S., has bought out partner Prudential Real Estate Investor for $298 million to wholly own a portfolio of 36 properties in 18 states, the company said Tuesday.

The joint venture, Ess Prisa III LLC, was formed in 2005 and was 94.9 percent owned by PREI and 5.1 percent owned by Extra Space, a real estate investment trust that operated the 234,000 self-storage units under its own brand.

The purchase price will be paid with...
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