Extra Space Storage completes stock offering
Extra Space Storage Inc., a Salt Lake City-based real estate investment trust, said it has completed its previously announced public offering of 5.9 million shares of its common stock.
The company, which specializes in self-storage properties, raised approximately $202.9 million from the offering.
It intends to use the proceeds to fund its previously announced acquisition of 28 properties for approximately $190.2 million and to repay a portion of its outstanding indebtedness.
Citigroup acted as the sole underwriter for the offering.
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