Extra Space Storage Acquisitions Team Fuels Strategic Growth in Self Storage
Extra Space Storage leaders Kely Chipman and Samantha Battis share how the acquisitions team supports growth through data-driven strategy, market insight, and innovative deals.
As the largest self storage operator in the U.S. with over 4,000 locations, Extra Space Storage leads the industry in self storage acquisitions. In the past five years alone, we've completed $19 billion in deals, ranging from single properties to large portfolios nationwide. Vice President of Investments, Kely Chipman, and Director of Investments, Samantha Battis, share insights into our acquisition strategy, what drives our success, and how we continue to create long-term value for shareholders. Read on to learn more about our acquisitions program!
What Makes Extra Space Storage's Acquisition Strategy Stand Out
The self storage industry has long been one of the most resilient investment classes, offering durability even amid shifting market conditions. At Extra Space Storage, our investment strategy targets a diverse range of markets with a long-term view of self storage growth.
We concentrate our acquisition efforts in markets where we already have a presence, enabling us to leverage robust data and local insights to guide informed investment decisions. Each self storage property is evaluated against a defined set of criteria to determine whether it aligns with our strategic goals.
“ Within a three-mile radius, we look for a population of at least 75,000 people and an average household income of at least $75,000. The building itself should ideally have a net rentable area of 75,000 square feet.” - Kely Chipman, Vice President of Investments
What sets our asset acquisition strategy apart is the flexibility we offer. Our self storage acquisitions team initially evaluates each property as a potential direct acquisition. If it doesn't meet our criteria, we may explore whether our bridge loan program is a better fit to support an owner's growth goals. We also offer third-party management services to help increase revenue and enhance property value, creating the potential to revisit storage acquisition conversations when the time is right.
How the Extra Space Storage Acquisition Team Operates
At Extra Space Storage, we're committed to teamwork—one of our core values. Our acquisitions team uses cross-functional collaboration to guide every decision.
“ When valuing a property, we consult with our operations team, district managers, and division vice presidents. Their input helps us better understand the strengths, weaknesses, and capital expenditure needs of each property.” - Kely Chipman, Vice President of Investments
Integrity is central to everything we do, whether as self storage buyers or lenders. We strive to create honest, realistic financial projections that serve the best interests of our shareholders while ensuring sellers receive fair value for their properties. Extra Space Storage is known for consistently arriving at closing with funding in place, without relying on external loans, which is why sellers trust us to follow through.
Powering Smarter Growth: The Role of Management Plus & Operations
Our operations team is integral to the property valuation process at Extra Space Storage. With the development of our Management Plus platform, we've equipped our team with enhanced data and insights to better evaluate performance, reduce expenses, and maximize revenue. This helps us more accurately assess a property's value, particularly in the case of a joint venture or multi-phase partnership.
Why Acquisitions Matter at Extra Space Storage
Our acquisitions aren't just about growth—they’re about creating sustainable, scalable value. Every deal is approached with intention, contributing to long-term performance, partner success, and shareholder value. The Extra Space Storage acquisitions team adapts to current market conditions, ensuring each move aligns with our broader strategic goals.
“ When we assess the value of a property that’s been in a joint venture with us for several years, we gain a true appreciation for the value creation driven by our operations team. Working on the acquisitions team usually means focusing on the next opportunity. But these types of transactions allow us to pause and reflect on the impact of our work—and how that value gets passed along to both our shareholders and our partners.” - Sam Battis, Director of Investments
Article Contributors
Kely Chipman, Vice President of Investments
Kely is Vice President of Investments and leads the Investments Team for Extra Space Storage. Prior to joining EXR in May 2018, he was a Vice President of Acquisitions for PNC Realty Investors, investing in multi-family, industrial, office, retail, and data centers across the United States.
Samantha Battis, Director of Investments
Samantha is the Director of Investments at Extra Space Storage. She has been with EXR since 2019 and has closed over $2 billion in self storage transactions (acquisitions, joint ventures, preferred equity, loans, NNN leases). Prior to joining EXR, Sam worked in the Finance Department at Goldman Sachs and was responsible for the firm's balance sheet and quarterly disclosures.
Partner with the largest self storage operator in the U.S.! Our acquisitions team is here to help you explore opportunities with Extra Space Storage. Contact us to learn more about our acquisition process and why we're a trusted buyer in today's market.
