Simpson Thacher is representing Blackstone Real Estate Income Trust, Inc. (BREIT) in its recently announced $2.2 billion sale of Simply Self Storage (Simply) to Public Storage (NYSE: PSA). The Simply business includes a portfolio of 127 wholly-owned properties and 9 million net rentable square feet that are geographically diversified across 18 states.
Simpson Thacher represented BREIT on its original acquisition of Simply from Brookfield Asset Management in 2020, and has represented BREIT and Simply in several acquisitions, dispositions and financings related to the Simply business since that time.
The Simpson Thacher team includes Matt Rogers, Robert Harrison and E.R. Rolwes (M&A); Davis Coen, Avi Kaye and Dorian Ledbetter (Real Estate); Nancy Mehlman, Jasmine Hay and Preston Irace (Tax); Andrew Blau and Kristy Fields (Executive Compensation and Employee Benefits); Lori Lesser and Bobbie Burrows (Intellectual Property); and Ben Wells (Registered Funds).