In its related SEC filing, the company says it will use $64.2million of the proceeds to repay the outstanding balance under ourrevolving credit facility; $130.8 million as cash consideration forthe pending acquisitions; $40.2 million to repay outstandingmortgage loans secured by 37 of our facilities; and, the remainderfor acquisition and development of additional self-storagefacilities, capital improvements and general corporatepurposes.

U-Store-It has been acquisitive lately. In late July, it closedon its acquisition of 3.6 million sf from National Self Storage andthe Schomac Group Inc. The transaction, which closed in stages,ultimately included 66 self-stage facilities, four office parks anda mobile home park. The purchase price was $212 million. It waspaid with stock, cash and assumed debt.

Between the time the National Self Storage deal was announcedand closed, U-Store-It closed on a few other acquisitions,including 863,000-sf in 18 self-storage facilities for $34 millionfrom Liberty Self-Stor Ltd., a subsidiary of Liberty Self-StorInc.; six facilities totaling 240,000 sf (rentable) from A-1 SelfStorage for $28.1 million; and another three facilities totaling200,000 sf (rentable) from an unnamed seller for another $14.9million.