Extra Space Storage Prices $550 Million in Senior Notes
Extra Space Storage Inc. has priced a $550 million public offering of 4.900% senior notes due in 2032. The Salt Lake City-based real estate investment trust, which operates over 4,300 self-storage facilities nationwide, set the pricing at 99.702% of the principal amount to facilitate debt repayment and future acquisitions.
The offering, managed by a syndicate including Wells Fargo Securities, J.P. Morgan, and Truist Securities, is slated to close on or about July 6, 2026. These notes will be fully and unconditionally guaranteed by Extra Space and select subsidiaries. The company plans to allocate the net proceeds toward retiring outstanding debt under its commercial paper program and existing lines of credit, while also earmarking capital for potential growth opportunities.
As the largest self-storage operator in the United States, Extra Space maintains a portfolio spanning 42 states and Washington, D.C. The issuance follows an effective shelf registration statement filed with the Securities and Exchange Commission, with the notes maturing on February 1, 2032.
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