September 13, 2020
Brookfield Explores $1.3 Billion Sale of Simply Self Storage

(Bloomberg)—Brookfield Asset Management Inc. is exploring a sale of real estate company Simply Self Storage, which could fetch about $1.3 billion, according to people with knowledge of the matter.

The alternative asset manager, working with advisers, has fielded interest from prospective suitors, said the people, who requested anonymity because the discussions are private.

A Brookfield representative declined to comment.

Simply Self Storage operates more than 120 locations across 23 states including Texas, Florida, New York and California, its website shows.

Brookfield purchased the company when it had 90 locations in 2016 and grew its footprint to more than 200 by November 2018.

That year, it sold a $1.3 billion portfolio of 112 properties to a joint venture comprising National Storage Affiliates Trust and an affiliate of Heitman Capital Management LLC.

Brookfield has more than doubled its initial investment in the company, according to an investor presentation last year.

© 2020 Bloomberg L.P.

This content was originally published here.

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram