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BUSINESS
November 8, 2001 | Associated Press
A Chicago real estate company that owns nearly half the stock in Storage USA Inc., one of the nation's largest self-storage companies, is proposing to buy the remaining shares for about $1 billion. The proposal announced Tuesday by Security Capital Group Inc. to spend $42 a share for outstanding shares in Memphis, Tenn.-based Storage USA also would require the Chicago company to assume about $871 million of debt and Storage USA's preferred stock.
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BUSINESS
May 6, 2005 | From Associated Press
GE Commercial Finance, the business-to-business financial services unit of General Electric Co., said Thursday that it had agreed to sell Storage USA for $2.3 billion in cash to a joint venture of Extra Space Storage Inc. and Prudential Real Estate Investors, which is acting on behalf of its institutional clients. The agreement is expected to close in the third quarter, subject to customary closing conditions. Based in Memphis, Tenn.
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BUSINESS
May 6, 2005 | From Associated Press
GE Commercial Finance, the business-to-business financial services unit of General Electric Co., said Thursday that it had agreed to sell Storage USA for $2.3 billion in cash to a joint venture of Extra Space Storage Inc. and Prudential Real Estate Investors, which is acting on behalf of its institutional clients. The agreement is expected to close in the third quarter, subject to customary closing conditions. Based in Memphis, Tenn.
BUSINESS
November 8, 2001 | Associated Press
A Chicago real estate company that owns nearly half the stock in Storage USA Inc., one of the nation's largest self-storage companies, is proposing to buy the remaining shares for about $1 billion. The proposal announced Tuesday by Security Capital Group Inc. to spend $42 a share for outstanding shares in Memphis, Tenn.-based Storage USA also would require the Chicago company to assume about $871 million of debt and Storage USA's preferred stock.
BUSINESS
December 24, 1996 | JAMES F. PELTZ
Stocks of self-storage warehouse operators have been among Wall Street's steadiest climbers in recent weeks, and analysts maintain that there're more gains in store. The operators are structured as real estate investment trusts, which pass along most of their earnings to stockholders in the form of dividends. As a result, most mini-warehouse REITs are carrying dividend yields of 6% or higher.
BUSINESS
December 15, 2001 | Bloomberg News
General Electric Co.'s GE Capital agreed to buy Security Capital Group Inc. for $4 billion in cash and stock to gain real estate assets including storage facilities, shopping centers and parking lots. GE Capital said it will pay $2.9 billion in cash to Security Capital Class B shareholders and $1.1 billion of ProLogis Trust shares held by Security Capital. The transaction values Security Capital at $26 a share. Security Capital's stock closed at $20.70, up 3 cents, before the deal was announced.
BUSINESS
June 13, 1996 | From Bloomberg Business News
After finishing a book on investing legend Warren Buffett one Sunday last fall, Dean Jernigan knew there was just one person with the deep pockets and smarts to help his small, self-storage property company expand. Not Buffett. Bill Sanders. Who? If you haven't heard of Sanders, it's probably because he wants it that way. To those in the business, though, the 54-year-old investor is to real estate what Buffett is to the stock market.
MAGAZINE
February 25, 1996 | Darrell Satzman
* Number of self-storage facilities in the U.S.: 25,000 * Total self-storage space in U.S.
BUSINESS
December 28, 1995 | From Times Staff and Wire Reports
Long-term bond yields slid to their lowest levels in 26 months on Wednesday as investors responded to fresh signs of economic weakness. On Wall Street, meanwhile, stocks closed mixed as an early blue-chip rally faded. Trading action overall remained subdued. In Tokyo stocks finished at 14-month highs, with the Nikkei-225 index topping 20,000 as the year-end Japanese rally continued. The U.S. bond market saw fresh buying after the National Assn.
BUSINESS
August 30, 1999 | JAMES F. PELTZ, TIMES STAFF WRITER
Two fledgling health-care services companies in California hope to follow their rivals and get financial booster shots with initial stock offerings. But the firms themselves indicate that the shares aren't for the queasy. TriZetto Group Inc., a Newport Beach-based provider of data processing and Internet-related services to the health-care industry, is hoping to raise about $57.5 million with its initial public offering. The other is PlanetRx.com Inc.
BUSINESS
December 24, 1996 | JAMES F. PELTZ
Stocks of self-storage warehouse operators have been among Wall Street's steadiest climbers in recent weeks, and analysts maintain that there're more gains in store. The operators are structured as real estate investment trusts, which pass along most of their earnings to stockholders in the form of dividends. As a result, most mini-warehouse REITs are carrying dividend yields of 6% or higher.
REAL ESTATE
October 18, 1998 | CARON GOLDEN, SPECIAL TO THE TIMES; Caron Golden is a San Diego freelance writer
When Theo Spratt decided to attend Cal State Fullerton as a working adult two years ago, his decision also meant downsizing from his house to an apartment. Rather than get rid of furnishings and other belongings that didn't fit in the apartment, Spratt put his things in storage, first in a facility in Fullerton, then into two units at Madison Squares Self-Storage in Anaheim. "I can keep my garage clean and park the car inside it.
BUSINESS
August 21, 2001 | MARK SACHS, TIMES STAFF WRITER
Ajay Malik thought he had investing pretty much figured out. You bought stocks, the stocks went up, you reaped the profits. One, two, three. Of course, that was more than a year ago, before the Nasdaq Stock Market and the technology stocks that fueled its rise collapsed. Today, the 30-year-old environmental engineer is a humbler but wiser investor, the reluctant recipient of a lesson in market volatility that cost him nearly half the value of his portfolio.
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