Extra Space Storage prices $550 million senior notes offering at 4.900%

Extra Space Storage Inc. (NYSE: EXR) announced that its operating partnership, Extra Space Storage LP, has priced a public offering of $550 million in aggregate principal amount of 4.900% senior notes due February 1, 2032.

The notes were priced at 99.702% of the principal amount. The offering is expected to close on or about July 6, 2026, subject to customary closing conditions. The notes will be fully and unconditionally guaranteed by Extra Space and certain of its subsidiaries.

The company said it intends to use the net proceeds to repay amounts outstanding under its lines of credit and its commercial paper program, and for general corporate and working capital purposes, including funding potential acquisition opportunities.

Wells Fargo Securities, J.P. Morgan, and Truist Securities are among the joint book-running managers for the offering, alongside BMO Capital Markets, BofA Securities, PNC Capital Markets LLC, TD Securities, and US Bancorp. Several co-managers are also participating, including Citigroup, Scotiabank, and Regions Securities LLC.

The notes are being issued pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. According to the company's most recent data, Extra Space owned and operated 4,344 self-storage stores across 42 states and Washington, D.C. as of March 31, 2026.

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