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EXR > SEC Filings for EXR > Form 8-K on 4-Nov-2013All Recent SEC Filings

Show all filings for EXTRA SPACE STORAGE INC.



Regulation FD Disclosure, Other Events, Financial Statements and Exhibit


On November 4, 2013, Extra Space Storage Inc. issued a press release regarding certain of the acquisitions described below. A copy of the press release is attached hereto as Exhibit 99.1. The information contained in Item 7.01 of this Current Report, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of Extra Space Storage Inc., whether made before or after the date hereof, regardless of any general incorporation language in such filing.


The following sets forth certain recent developments for Extra Space Storage Inc.

Recent Developments

Pending Acquisitions

On October 30, 2013, we entered into a definitive purchase agreement to acquire a portfolio of 17 self-storage properties located in Virginia for an aggregate purchase price of approximately $200.0 million in cash. This portfolio consists of approximately 1.5 million square feet of net rentable space in approximately 14,000 units. As of September 30, 2013, approximately 90% of the net rentable space at these properties was occupied.

In addition, as previously announced, we have entered into definitive purchase agreements to acquire five additional properties located in Florida, Hawaii and Texas. These five properties contain an aggregate of approximately 402,000 square feet of net rentable space in approximately 4,160 units. In total, we have agreed to acquire these properties for an aggregate purchase price of approximately $50.4 million.

These acquisitions are subject to the completion of due diligence and the satisfaction of other closing conditions. We intend to close each of these acquisitions before the end of the first quarter of 2014; however, there can be no assurances that these conditions will be satisfied or that the acquisitions will close on the terms described herein, or at all.

Completed Acquisitions

As of November 4, 2013, we have consummated the acquisition of 35 of the 40 properties previously announced in our third quarter 2013 earnings release as being under contract, for a total purchase price of approximately $190.4 million. Of the 35 properties, we acquired 19 from the purchase of a joint-venture partner's interest in an existing joint venture. These 35 properties are located in 12 states and contain an aggregate of approximately 2.6 million square feet of net rentable space in approximately 23,600 units.


(d) Exhibits:

Number           Description of Exhibit

 99.1     Press Release dated November 4, 2013.

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