Extra Space Storage (EXR) prices $450 million senior note offering.

Extra Space Storage Inc. (EXR) announced today that its operating partnership has priced an offering of $450 million 2.550% senior unsecured notes due 2031.  The notes were priced at +98 to the treasury curve and are rated Baa2/BBB by Moody's and S&P.

Founded in 1977, Extra Space Storage is the second-largest owner/manager of self storage properties in the U.S. As of March 31, 2021, the company's portfolio totaled 1,969 properties in 40 states and the District of Columbia, including 263 properties held in joint ventures and 763 properties managed on a fee basis. EXR is a member of the S&P 500 and has a total market capitalization of approximately $24 billion.