Public Storage will acquire ezStorage, a chain of self-storage properties in the Washington, D.C. region, for $1.8 billion, the company announced Tuesday.

The Glendale owner and operator of self-storage assets will get a portfolio of 48 properties with 4.2 million net rentable square feet in Virginia, Maryland and Washington, D.C. Public Storage also will assume responsibility for one property under construction.

After the acquisition, Public Storage will have a Mid-Atlantic portfolio with 163 properties and 11.3 million net rentable square feet. The company plans to fund the acquisition with unsecured debt.


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