Sovran Self Storage Agrees to Buy LifeStorage for $1.3 Billion

May 19, 2016 ·

Sovran Self Storage, Inc. (NYSE:SSS) said May 19 that it has agreed to buy  LifeStorage, LP, a privately owned self-storage operator, for approximately $1.3 billion in cash.

Sovran operates more than 550 self-storage facilities in 26 states under the name Uncle Bob’s Self Storage.

Apple Hospitality REIT Planting Seeds for More Success

May 10, 2016 ·

Since its listing on the New York Stock Exchange a year ago this month, there’s been little let-up in activity at Richmond, Virginia-based Apple Hospitality REIT, Inc. (NYSE: APLE).

Last month, the lodging REIT announced plans to acquire public non-listed REIT Apple REIT Ten, Inc. in a deal valued at approximately $1.3 billion. Apple REIT Ten was formed by Glade Knight, the executive chairman of Apple Hospitality. The merger would create one of the largest lodging REITs in the country.

REITs Dip in April; Fundamentals Remain Firm

May 03, 2016 ·

REITs dipped slightly in April, but the industry continued to outpace the broader market on a year-to-date basis.

The total returns of the FTSE/NAREIT All REIT Index fell 1.7 percent in April, while the S&P 500 Index added 0.4 percent. Through the end of April, the total returns of the FTSE/NAREIT All REIT Index were 4.1 percent, while the S&P 500 Index was 1.7 percent higher. The yield on the 10-year Treasury note was 0.5 percent lower during the first four months of the year.