DLA Piper acted as real estate financing counsel to Public Storage in connection with its completed acquisition of National Storage Affiliates (NSA), an all-stock transaction valued at US$10.5 billion. The financing included an approximately US$2 billion bridge loan from Goldman Sachs and Wells Fargo secured by 313 properties across 28 states and Puerto Rico.
The acquisition added more than 1,000 properties, 69 million rentable square feet, and 550,000 units across the United States to Public Storage’s portfolio.
The DLA Piper deal team was led by Partner Amy Carbins (Washington, DC) with Partners Thanos Matthai (Boston) and Skyler Anderson (San Diego).
With more than 200 lawyers in our real estate and construction practice in the US and 500 globally, DLA Piper’s market-leading team offers a full range of real estate services, including acquisitions and sales, single asset, programmatic, and operating company joint ventures, real estate fund formation, public and private REITs, financing, cross-border transactions, zoning and development, construction and design, leasing, restructuring, and workouts. The firm represents many of the world’s largest and most sophisticated real estate investors, owners, developers, and lenders in their most important matters.
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