Life Storage

Seven Hills Realty Trust Closes $25.3 Million Bridge Loan to Refinance Two Self-Storage Facilities in Georgia

Retrieved on: 
Thursday, October 12, 2023

Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $25.3 million first mortgage floating rate bridge loan to refinance two Life Storage branded self-storage facilities located at 3900 Cascade Road in Atlanta, Georgia and 815 W. Lanier Avenue in Fayetteville, Georgia.

Key Points: 
  • Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $25.3 million first mortgage floating rate bridge loan to refinance two Life Storage branded self-storage facilities located at 3900 Cascade Road in Atlanta, Georgia and 815 W. Lanier Avenue in Fayetteville, Georgia.
  • The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements.
  • SEVN’s manager, Tremont Realty Capital , was introduced to the transaction by Talonvest Capital , which advised the joint venture sponsorship of Castle Hill Investors and Olympus Ventures LLC.
  • This $25.3 million first mortgage loan is secured by two well-leased Class A self-storage properties in vibrant metro Atlanta submarkets.

Self-storage and Moving Services Market size to increase by USD 18.29 billion from 2022 to 2026 | Reduced housing space due to increasing urban population density drives the market - Technavio

Retrieved on: 
Friday, September 8, 2023

Reduced housing space due to increasing urban population density is notably driving the self-storage and moving services market growth.

Key Points: 
  • Reduced housing space due to increasing urban population density is notably driving the self-storage and moving services market growth.
  • This trend is poised to propel the growth of the global self-storage and moving services market throughout the forecast period.
  • The increase in global demand for the warehousing and storage market is one of the key drivers supporting the market growth.
  • The growth in real estate agencies is one of the key drivers supporting the moving services market growth in the US.

Life Storage Mourns the Sudden Passing of Alexander Gress, Chief Financial Officer

Retrieved on: 
Tuesday, July 11, 2023

Life Storage, Inc. (NYSE: LSI) (“the Company”), a self-storage real estate investment trust (REIT), today announced with great sadness that Alexander Gress, the Company’s Chief Financial Officer, passed away unexpectedly on July 9, 2023.

Key Points: 
  • Life Storage, Inc. (NYSE: LSI) (“the Company”), a self-storage real estate investment trust (REIT), today announced with great sadness that Alexander Gress, the Company’s Chief Financial Officer, passed away unexpectedly on July 9, 2023.
  • “We are shocked by the tragic passing of Alex Gress,” said Joseph Saffire, the Company’s Chief Executive Officer.
  • The Board has appointed David Dodman, Chief Operating Officer of Life Storage, as Chief Financial Officer, effective immediately.
  • Prior to joining Life Storage, Mr. Dodman held various corporate strategy, mergers and acquisitions and operational roles at KeyBank, First Niagara Financial Group, Lockheed Martin Corporation, Legg Mason and Stifel Financial.

Life Storage, Inc. Announces Dividend on Common Stock

Retrieved on: 
Monday, July 3, 2023

The Board of Directors of Life Storage, Inc. (NYSE: LSI) (“the Company”), a self-storage real estate investment trust (REIT), today announced a dividend of $0.90 per share of common stock, as permitted by the terms of the merger agreement the Company entered into with Extra Space Storage Inc. (NYSE: EXR).

Key Points: 
  • The Board of Directors of Life Storage, Inc. (NYSE: LSI) (“the Company”), a self-storage real estate investment trust (REIT), today announced a dividend of $0.90 per share of common stock, as permitted by the terms of the merger agreement the Company entered into with Extra Space Storage Inc. (NYSE: EXR).
  • The dividend will be paid on July 19, 2023 to Life Storage shareholders of record as of July 13, 2023.
  • Life Storage continues to expect to complete the transaction with Extra Space Storage by the end of July 2023, subject to the approval of Extra Space Storage and Life Storage shareholders and satisfaction of other customary closing conditions.
  • Should the merger not close prior to the next quarterly dividend date, as defined by Extra Space Storage’s customary dividend timing, Life Storage would pay a one-time dividend effectively augmenting the total dividend amount consistent with the amount that the Life Storage Board of Directors would have otherwise declared for the whole quarter absent the pending merger agreement.

IMPORTANT ALERT: Halper Sadeh LLC Investigates VECT, SYNH, LSI, CHRA

Retrieved on: 
Thursday, June 22, 2023

Life Storage, Inc. (NYSE: LSI)'s sale to Extra Space Storage Inc. for 0.8950 Extra Space shares for each Life Storage share.

Key Points: 
  • Life Storage, Inc. (NYSE: LSI)'s sale to Extra Space Storage Inc. for 0.8950 Extra Space shares for each Life Storage share.
  • Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders.
  • Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected] .
  • Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.

STOCKHOLDER ALERT: The M&A Class Action Firm Continues Investigating the Merger – DICE, CIR, LSI, GHL

Retrieved on: 
Thursday, June 22, 2023

Under the terms of the agreement, DICE shareholders are expected to receive $48.00 in cash per share they own.

Key Points: 
  • Under the terms of the agreement, DICE shareholders are expected to receive $48.00 in cash per share they own.
  • It is free and there is no cost or obligation to you.
  • Under the terms of the agreement, LSI shareholders are expected to receive 0.8950 shares of Extra Space per share they own.
  • Under the terms of the agreement, GHL shareholders are expected to receive $15.00 in cash per share they own.

Extra Space Announces Results of Early Participation in Exchange Offers and Consent Solicitations and Extension of the Early Participation Premium

Retrieved on: 
Tuesday, June 20, 2023

Extra Space is hereby amending the terms of the Exchange Offers (as defined below) so that, for each $1,000 principal amount of Life Storage Notes validly tendered for exchange (and not validly withdrawn) after the Early Consent Date but prior to the Expiration Date (which is 5:00 p.m., New York City time, on July 21, 2023 unless extended), eligible holders of Life Storage Notes will now also be eligible to receive $1,000 principal amount of EXR Notes plus $1.00 in cash, which includes the early participation premium (the "Total Consideration").

Key Points: 
  • Extra Space is hereby amending the terms of the Exchange Offers (as defined below) so that, for each $1,000 principal amount of Life Storage Notes validly tendered for exchange (and not validly withdrawn) after the Early Consent Date but prior to the Expiration Date (which is 5:00 p.m., New York City time, on July 21, 2023 unless extended), eligible holders of Life Storage Notes will now also be eligible to receive $1,000 principal amount of EXR Notes plus $1.00 in cash, which includes the early participation premium (the "Total Consideration").
  • To be eligible to receive the Total Consideration, holders of Life Storage Notes must validly tender (and not validly withdraw) their Life Storage Notes at or prior to the Expiration Date.
  • A Registration Statement on Form S-4 (File No.
  • 333-272407) (the "Registration Statement") relating to the issuance of the EXR Notes was filed with the Securities and Exchange Commission ("SEC") on June 5, 2023, and was declared effective by the SEC on June 16, 2023.

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates LSI, CHRA, ARNC, HMPT

Retrieved on: 
Thursday, June 15, 2023

If you are a Life Storage shareholder, click here to learn more about your rights and options .

Key Points: 
  • If you are a Life Storage shareholder, click here to learn more about your rights and options .
  • If you are a Charah shareholder, click here to learn more about your rights and options .
  • Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected] .
  • Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.

LIFE STORAGE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Life Storage, Inc. - LSI

Retrieved on: 
Wednesday, June 14, 2023

and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Life Storage, Inc. (NYSE: LSI) to Extra Space Storage Inc. (NYSE: EXR).

Key Points: 
  • and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Life Storage, Inc. (NYSE: LSI) to Extra Space Storage Inc. (NYSE: EXR).
  • Under the terms of the proposed transaction, shareholders of Life Storage will receive 0.8950 of an Extra Space share for each share of Life Storage that they own.
  • KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
  • To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com .

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates USX, LSI, CHRA

Retrieved on: 
Wednesday, June 14, 2023

If you are a U.S. Xpress shareholder, click here to learn more about your rights and options .

Key Points: 
  • If you are a U.S. Xpress shareholder, click here to learn more about your rights and options .
  • If you are a Life Storage shareholder, click here to learn more about your rights and options .
  • Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders.
  • Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.