Our Opinions Practice Provided a Fairness Opinion to LAACO, Ltd., in Connection With Its Sale to CubeSmart for Approximately $1.7 Billion
On November 15, 2021, Self-storage properties operator CubeSmart (NYSE: CUBE) (the “Company”), announced that it has entered into an agreement to acquire LAACO, Ltd. (“LAACO”), the owner of the Storage West platform, which includes 59 self-storage assets with 4.3 million self-storage net rentable square footage located in Southern California, Phoenix, Las Vegas and Houston.
Duff & Phelps, A Kroll Business, served as an independent financial advisor to LAACO, Ltd. and provided a fairness opinion in connection with the transaction.
LAACO, Ltd., is a California limited partnership that owns and manages 59 Storage West self-storage facilities located in the Western United States, the Los Angeles Athletic Club and the California Yacht Club. Winston & Strawn LLP served as legal counsel to LAACO.
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 1,251 self-storage properties across the United States. According to the 2021 Self Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the U.S. Morgan, Lewis & Bockius LLP served as legal counsel to CubeSmart.
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