Blackstone to pay $1.2 billion for Simply Self Storage

By: Miguel A. Rodriguez

14:12, 26 October 2020

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Blackstone to close a deal with Brookfield Asset Management

The Blackstone Group Inc – the largest alternative investment management firm in the world is looking to expand its horizons.

Rumor has it that the American firm has struck a deal with Brookfield Asset Management to purchase Simply Self Storage. According to the agreement, the first will pay $1.2 billion for a portfolio, which includes eight million-square-foot of self-storage facilities.

Experts believe this is a move made to put Blackstone on the map of firms that run storage facilities. Blackstone stated that it’s looking to acquire even more smaller assets in this industry and run them under the Simply brand.

Blackstone is placing its bets on a sector that showed strength even during the pandemic. Storage facilities are inviting for investors because they need little capital expenditures, and their rents can be lowered or raised, depending on the market.

The deal will be formally announced later today, October 26.

The Blackstone Group stock price ended the week down 0.24%. Brookfield stock price is set to open 0.41% lower.

Read about the latest deals on CAPEX.com!

Sources: foxbusiness.com, reuters.com

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.