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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.
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.
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.
Life Storage, Inc. is a real estate investment trust headquartered in Williamsville, New York, that invests in self-storage units. The company was previously known as Sovran Self Storage and Uncle Bob's Self Storage. As of February 2023, the company had over 1,100 facilities in 37 states. [2] It is the 4th largest owner of self-storage units in ...
Fortress Investment Group LLC was founded as a private equity firm in 1998 by Wesley R. Edens, a former partner at BlackRock; Rob Kauffman, a managing director at UBS; and Randal A. Nardone, also a managing director at UBS. [4] Based in New York City, [5] Fortress quickly expanded into hedge funds, real estate-related investments and debt ...
Tamara Hughes Gustavson (born 1961) is an American business executive and billionaire. [1] [2] The daughter of Public Storage co-founder and chairman B. Wayne Hughes, [3] Gustavson is Public Storage’s largest shareholder, owning 11% of the company. [2] As of August 2022, she ranked #251 on the Forbes 400 with a net worth of $8 billion.
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.