Tuesday, September 21, 2021
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TPG of Fort Worth sinks $120M into LifeStorage

🕐 1 min read

A. Lee Graham

Reporter

 

Self-storage firm LifeStorage LP has secured a $120 million investment from TPG Real Estate, the real estate platform of Fort Worth-based TPG, a global private investment firm.

Terms of the transaction were not disclosed.

“Not only is there strong continued demand for self-storage, but the industry also remains very fragmented, which should provide opportunities for further consolidation and attractive follow-on acquisitions,” said Avi Banyasz, partner and co-head of TPG Real Estate, commenting in a news release.

“Mark [Good, LifeStorage CEO] and his team have built a leading self-storage company in LifeStorage, and we are excited to be a partner in the company’s continued success,” Banyasz said.

LifeStorage, based in Roseville, Calif., owns, acquires and operates self-storage facilities. More information is available at www.LifeStorage.com.

TPG Real Estate, the real estate arm of Fort Worth-based TPG, has invested more than $2.6 billion of equity in North American and Europe since 2009. More information is availbale at www.tpg.com.

lgraham@bizpress.net

 

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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