CLOUD

Sovran Self Storage announced the acquisition of nine self storage facilities for a combined purchase price of $54.7 million. The acquisitions were funded through the Company's at-the-market equity program, advances on its line of credit, and operating cash flow.

Uncle Bob's Self Storage adds nine quality stores to its portfolio including four storage facilities in Atlanta, GA. (Photo: Business Wire)

The properties are located in markets where the company already has a presence, including four Atlanta, GA self storage facilities; three in Jacksonville, FL; one in Raleigh, NC; and one in Chicago, IL. The properties total over 770,000 square feet of rental space.

"These acquisitions are high quality additions to our portfolio and allow us to provide our customers with premium, climate controlled spaces in markets where there is high demand," said David Rogers, Chief Executive Officer. "We are especially pleased to expand our presence in the Chicago market," Rogers added.

Each of the storage facilities will be rebranded under the Uncle Bob's Self Storage® name and fully integrated into the Company's operating platforms.