BREIT To Acquire Simply Self Storage From Brookfield Fund For Approx. $1.2 Bln

(RTTNews) - Blackstone Real Estate Income Trust, Inc. has entered into a definitive agreement to acquire Simply Self Storage from a Brookfield Asset Management real estate fund for approximately $1.2 billion. The deal is anticipated to close prior to the end of 2020.

Simply Self Storage is one of the top five private owners of self-storage and operates a portfolio totaling eight million square feet across the U.S. BREIT noted that, following the acquisition, the company will be the third largest non-listed owner of storage in the U.S.

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