Self Storage

Extra Space is working with an adviser on a potential bid, the people said asking not to be identified because the matter is private. Its plans aren’t final and could still change.

Prime Group Holdings’ latest self-storage fund reached its hard cap of $2.5 billion.

The deal values Life Storage at about $11 billion, or $129 a share — about 17 percent above its closing price of $110.58 on Friday.

The fund aims to raise $1 billion in equity for investments in 30 of the largest U.S. cities.

A deal could value the self-storage provider at more than $400 million, according to people with knowledge of the matter.

A growing number of buyers are also willing to buy new self-storage properties before they are fully-leased.