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Public Storage Inc. was founded in 1972 by B. Wayne Hughes and Kenneth Volk Jr. It grew to 1,000 locations by 1989, using funding from investors in real estate limited partnerships (RELPs). The private company was re-structured as a publicly traded REIT in 1995, when Storage Equities merged with Public Storage and adopted its name.
Public Storage operates storage facilities across the United States and Europe as a member of the S&P 500 and FT Global 500. At present (2016), he is a member of the Board of Trustees of Public Storage, alongside his sister Tamara Gustavson. In 2005, Hughes Jr. founded American Commercial Equities.
The five largest REITs in the United States in 2021 are: American Tower Corporation, Prologis, Crown Castle International, Simon Property Group and Weyerhaeuser. [1] Notable publicly traded real estate investment trusts based in the United States include: Company Name. REIT Type.
Bradley Wayne Hughes (September 28, 1933 – August 18, 2021) was an American billionaire businessman, the founder and chairman of Public Storage, [1] the largest self-storage company in the U.S. doing business as a real estate investment trust (REIT). [2] At the time of his death, Hughes had an estimated net worth of US$3.3 billion.
Extra Space Storage facility in Charleston, South Carolina, on St. Andrews Blvd. Extra Space Storage is a real estate investment trust headquartered in Salt Lake City, UT that invests in self storage facilities. The company rents storage units, including climate controlled units, drive-up units, lockers, boat storage, RV storage and business ...
In 2003, PODS received an equity investment of $15M from the Hunt Private Equity Group, along with a $25M senior credit facility from Congress Financial Corp. In 2005, PODS grossed over $200 million in revenue, and was still privately owned. By then, the company was franchised in 45 states, and logged 2,500 pickups and deliveries a day.
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