Daily News: September 11, 2014

Citigroup Global Provides Acquisition Line to LifeStorage

LifeStorage announced it has entered into a $100 million secured line of credit with Citigroup Global Markets to fund future acquisitions.

LifeStorage said it will use Citi’s credit facility to support its growth strategy of acquiring premier properties in the top 50 markets across the U.S. LifeStorage clusters its facilities in strategic locations, enabling it to offer convenient and diverse storage choices to its customers.

“Citi’s credit facility confirms our success in selectively acquiring institutional quality properties and significantly improving operating results. It will provide us with the flexibility to expand our portfolio opportunistically,” said Mark Good, CEO of LifeStorage.

Roseville, CA-based LifeStorage is an owner, acquirer and operator of self-storage facilities.