Blackstone Real Estate Income Trust to Buy Brookfield's Simply Self Storage for $1.2bn

Blackstone Real Estate Income Trust, Inc. today announced that BREIT has entered into a definitive agreement to acquire Simply Self Storage from a Brookfield Asset Management real estate fund for approximately $1.2bn. Simply Self Storage is one of the top five private owners of self-storage and operates a high-quality portfolio totaling eight million square feet across the U.S. BREIT currently owns a $300m portfolio of self-storage facilities, and following this acquisition, BREIT will be the third largest non-listed owner of storage in the U.S.