| Source: Extra Space Storage Inc.
SALT LAKE CITY, July 14 /PRNewswire-FirstCall/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR - News) today celebrates the one-year anniversary of its acquisition of San Antonio Storage Facility USA from GE Commercial Finance, the business-to-business financial services unit of the General Electric Corporation. The transaction, for approximately $2.3 billion in cash, made the Company the second largest self-storage operator in the U.S. with over 630 properties owned or under management in 34 states including Washington, DC. The Company purchased one-hundred percent of 61 Storage USA properties, and through a joint venture with Prudential Real Estate Investors ("PREI"), purchased an ownership interest in an additional 259 Storage USA properties. The Company also acquired Storage USA's equity interest in 54 joint venture properties, and assumed the management of 84 franchise and managed properties.
From Ship To Store Offers New Service to the Self Storage Industry
Keith Marshall, in partnership with David Boatner, is pleased to announce the opening of From Ship To Store. The company sells turn-key shipping & mailing systems, along with providing on-site installation and training to the self San Antonio storage industry. Dickinson, TX (PRWEB) July 22, 2006 -- Keith Marshall, in partnership with David Boatner, is pleased to announce the opening of From Ship To Store. The company sells turn-key shipping & mailing systems, along with providing on-site installation and training to the self storage industry.
When asked why they chose this particular venture, Mr. Marshall commented, "We were looking to leverage our own self storage operational facility & personnel to increase profits by adding some type of additional service offering that was complimentary to our self storage business." Keith initially set up his own system at his Bay Colony Self Storage location and found out how difficult it was to bring together all of the individual pieces.
Energy company Valero GP has lackluster market debut
WASHINGTON - Energy company Valero GP Holdings LLC capped a week of slow going in the IPO market with a debut that hovered precariously close to its offering price. In midday trading Friday, Valero's stock was at $22.03, barely above its $22 initial public offering price. The company sold 17.25 limited partner units at the low end of the expected price range. The San Antonio company is the general partner of Valero LP, a limited partnership that specializes in oil and fuel transportation and storage. Valero LP, which went public in 2001, pays out much of its available cash to unit holders via a generous 7 percent yield dividend; Valero GP is entitled to that base dividend as well as a special incentive dividend on top of it that it, in turn, pays out to its investors.
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