April 28, 2021– Rosenberg Martin Greenberg LLP is pleased to report that it acted as lead counsel to Maryland-based ezStorage in the sale of its 4.2 million square foot self-storage portfolio that was purchased by California-based Public Storage for a reported price of $1.8 billion. ezStorage is the largest storage company in the Maryland, Virginia and Washington, DC region with over 43,000 self-storage units. The sale included 49 properties across the mid-Atlantic region. The RMG team was led by partners Barry Greenberg and Kelvin Antill and included Robert Berman. RMG worked with co-counsel Julian Kleindorfer, David Meckler, Aaron Friberg and Will Swanson of Latham & Watkins LLP.
Todd Manganaro, President and CEO of ezStorage said, “Rosenberg Martin Greenberg was an invaluable asset and partner to ezStorage in the operation of our properties and in order to get this deal to the finish line. RMG and Latham worked seamlessly together and were an exceptionally strong team for the transaction.”
Barry Greenberg, chair of the firm’s real estate practice group and Managing Partner added: “My long relationship with ezStorage and the Manganaro family makes me very happy and proud that we could smoothly execute this transaction and bring it to closing. We were fortunate to be able to follow the foundation set by Gregory Reed, the long-time outside real estate counsel for ezStorage.”
Public Storage is the largest owner and operator of self-storage facilities in the Untied States. The transaction with ezStorage expanded the company’s current portfolio of storage units in the Maryland, Virginia, and Washington, DC area by nearly 60%.