TPG parks $120 mln in self-storage business

Roseville, Calif-based LifeStorage, which owns, operates and acquires self-storage facilities, has received $120 million in funding from TPG Real Estate. Also, Jasper Ridge Partners has made an undisclosed follow-on investment in LifeStorage.

According to the company, TPG’s funding will be used to support its acquisition strategy in the top 50 markets in the U.S.

The TPG and Jasper investments follow LifeStorage recently announcing it had secured a $100 million line of credit from Citigroup Global Markets.

Launched in 2011, LifeStorage owns and operates 78 properties in 9 states.

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