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Self-storage REIT Public Storage has acquired ezStorage in a deal valued at $1.8 billion. 

The portfolio consists of 48 properties of 4.2 million net rentable square feet across submarkets in Washington D.C., Virginia, and Maryland. Public Storage’s development team will assume responsibility for one property currently under construction and will expand another eight properties to yield an estimated 10% increase in square footage through 2023.

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