Actualités

Parrédaction Publié Mai 2, 2006

Bluespace rachète les deux sites d’Easybox en Espagne

La société espagnole Bluespace filliale de Pramerica, vient de racheter les deux sites espagnoles de Easybox, à Barcelone et Madrid.

http://www.bluespace.es
http://www.easybox.es

Parrédaction Publié Avr 30, 2006

Public Storage achète Shurgard pour 5 milliards de dollars

L’accord était attendu depuis longtemps, c’est aujourd’hui officiel : l’américain Public Storage va racheter son homologue Shurgard Storage Centers, leader mondial du «self stockage» (service de location d’espaces de stockage dans des sites conçus à cet effet) pour un somme avoisinnant les 5 milliards de dollars.

Public Storage va ainsi émettre environ 38.4 millions d’actions communes en échange de l’ensemble des actions de Shurgard et reprend également les 1,8 milliard de dollars de dette. La finalisation de la transaction est prévu pour le second trimestre.

Shurgard Storage Centers Inc. est cotée à la bourse de New-York en tant que Real Estate Investment Trust (REIT) et gère plus de 610 sites dans 154 villes, dans 22 états des Etats-Unis et en Europe (Belgique, France, Suède, Royaume-Uni, Pays-Bas, Danemark et Allemagne ). En France, l’américain a racheté BoxAvenue, possède un réseau de près 46 sites.

Parrédaction Publié Mar 16, 2006

Public Storage buys Shurgard

The Boards of Directors of both companies approved a definitive merger agreement under which Public Storage will acquire Shurgard at a total transaction value of approximately $5.0 billion. Under the transaction, which is taxable, Public Storage will issue approximately 38.4 million shares of common stock, will assume approximately $1.8 billion of Shurgard debt and $136 million of Shurgard preferred stock will be redeemed. The transaction is targeted to close by the end of the second quarter 2006.

Under the terms of the merger agreement and upon close of the transaction, each share of Shurgard common stock will be exchanged for 0.82 shares of Public Storage common stock, representing a current value per Shurgard common share of $65.16 based on Public Storage’s close on Monday, March 6, 2006. This represents a 39% premium to Shurgard’s closing stock price on Friday, July 29, 2005, the last day prior to when Public Storage publicly announced its proposal to acquire Shurgard. Upon closing, Shurgard’s shareholders will own approximately 23% of the outstanding shares of the combined company.

The merger will enhance the size of the nation’s largest self-storage company with a combined total market capitalization of approximately $18 billion and with ownership interest in over 2,100 facilities in 38 states and seven European nations.

« The combination of Public Storage and Shurgard creates the largest self-storage company in the world, with significant operating platforms in both the United States and Europe, and enhances our prospects for continued growth and improved profitability, » said Ronald L. Havner, Jr., President and Chief Executive Officer of Public Storage. « We are pleased that Shurgard’s Board of Directors and management have recognized the compelling financial and strategic benefits of this transaction. This transaction provides Shurgard’s shareholders with a substantial premium for their shares and the opportunity to benefit from participation in the upside potential of the combined entity. We look forward to creating additional value for the shareholders of the combined company. »

David K. Grant, President and Chief Executive Officer of Shurgard, stated, « This merger represents a win-win situation for both Shurgard and Public Storage shareholders. A few months ago, we initiated a process to determine the best course of action for our Company. After reviewing a number of strategic alternatives, it is clear that this transaction is the best option to create long-term value for our shareholders. There are very few real estate asset classes that are as scalable as self-storage and none that benefits as much from economies of scale. Our combined employees represent the best and the brightest in the industry with deep experience in every aspect of the business in eight different countries. So there is a huge opportunity for these two groups of employees to benefit from each other’s experience and ideas. »

Given the geographic overlap of the Public Storage and Shurgard portfolios, economies of scale are expected in media. Other savings are expected to be achieved by reducing duplicate expenses for Yellow Pages and other advertising, management information systems and other back-office functions.

Public Storage will retain its headquarters in Glendale, California. Dave Grant will remain with the Company at least through the close of the transaction. An independent member of Shurgard’s Board of Directors will join the Public Storage Board of Directors upon closing.

The transaction is subject to customary closing conditions and regulatory approvals and the majority approval of both companies’ shareholders. Members of the Hughes family, who collectively own approximately 36% of Public Storage’s outstanding shares, have agreed to vote their shares in favor of the transaction. Similarly, Charles K. Barbo, Chairman of Shurgard, has agreed to vote his shares in favor of the transaction.

In connection with the transaction, Goldman Sachs is serving as exclusive financial advisor to Public Storage, and Wachtell, Lipton, Rosen & Katz is serving as its legal counsel. Citigroup Corporate and Investment Banking and Banc of America Securities LLC are serving as financial advisors to Shurgard, and Willkie Farr & Gallagher LLP and Perkins Coie LLP are serving as its legal counsel.

[b]Analyst/Investor Conference Call and Web Cast[/b]

A conference call has been scheduled for Tuesday, March 7, 2006, at 8:00 a.m. (PST) to discuss the merger. The participant toll free number is (877) 368-5103 (conference ID number 6282604). A simultaneous audio web cast may be accessed by using the link at www.publicstorage.com under « Corporate Information, Investor Relations. » A replay of the conference call may be accessed through March 13, 2006 by calling (800) 642-1687 or by using the aforementioned web link. Both forms of replay utilize conference ID number 6282604.

About Public Storage, Inc.

Public Storage, Inc., an S&P 500 company, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. The Company’s self-storage properties are located in 37 states. At December 31, 2005, the Company had interests in 1,501 storage facilities with approximately 92 million net rentable square feet.

Additional information about Public Storage, Inc. is available on its website, www.publicstorage.com

About Shurgard Storage Centers, Inc

Shurgard Storage Centers, Inc. is a real estate investment trust headquartered in Seattle, Washington. Shurgard specializes in all aspects of the self-storage industry and operates a network of over 644 operating storage centers located throughout the United States and in Europe.

Parrédaction Publié Mar 12, 2006

Homebox rachète deux sites Devon

Les deux sites Devon implantés à Lyon et Toulouse viennent d’être rachetés par Homebox. Le Garde meubles Marseille est repris par Shurgard.

Parrédaction Publié Oct 28, 2005

Encore une hausse du prix de l’acier?

Un accord a été conclu entre le japonais Nippon Steel Corp. et le groupe minier brésilien Companhia Vale do Rio Doce (CVRD).

J’y crois dur comme fer, ça va faire un carton à Marseille. Enfin une solution pour le coup de neuf du Printemps

Aux termes de celui ci, le premier a accepté une hausse des prix de plus de 70% dans le cadre de son contrat annuel d’approvisionnement en minerai de fer avec le second.

Parrédaction Publié Oct 28, 2005

Shurgard Announces Fourth Quarter and 2004 Annual Results

European Operating Results

At constant exchange rates, the Europe Same Store segment in the fourth quarter of 2004 generated increases in revenue of 7.7% and NOI before leasehold and indirect expenses of 2.0% over the fourth quarter of 2003. NOI after leasehold and indirect expenses in the quarter grew 0.5% from the same quarter in 2003. Strong revenue growth due to a combination of occupancy gains and rental rate growth was largely offset during the quarter by increased operating expenses, primarily related to special marketing efforts as management targets occupancy growth in the stores not yet at stabilized occupancy levels. At constant exchange rates, Europe Same Stores for the full year 2004 generated growth in revenue and NOI after leasehold and indirect expenses of 9.5% and 15.5%, respectively, over the previous year.

The average occupancy for the full year 2004 of the Europe Same Store pool (75%) is lower than the average occupancy of the Domestic Same Store portfolio during the same period (85%), in part because of the significantly younger average age of the stores in the European portfolio, with some stores in the Europe Same Store pool still in rent-up. The Company also believes its operating performance in Europe continues to be influenced by weaker economies in some of its European markets and by a temporary over-supply in certain markets from new developments by Shurgard and its competitors.

Table 14: SHURGARD STORAGE CENTERS, INC. EUROPEAN YEAR TO DATE SAME STORE RESULTS European Same Store Results for year ended December 31, 2004, 2003 and 2002 (unaudited) As defined in 2004 (1) ——————————— Year ended December 31, ——————————— (in thousands except average rent) 2004 2003(5) % Change ———- ———- ——— Storage center operations revenue $ 73,241 $ 66,867 9.5% Operating expense: Personnel expenses 10,035 9,040 11.0% Real estate taxes 3,150 2,888 9.1% Repairs and maintenance 2,786 2,386 16.8% Marketing expense 4,972 4,297 15.7% Utilities and phone expenses 1,846 1,920 -3.9% Cost of Goods Sold 2,515 2,337 7.6% Store admin and other expenses 5,235 4,849 8.0% ———- ———- Direct operating and real estate tax expense 30,539 27,717 10.2% ———- ———- NOI 42,702 39,150 9.1% Leasehold expense 1,620 1,563 3.6% ———- ———- NOI after leasehold expense 41,082 37,587 9.3% Indirect operating expense (3) 8,781 9,610 -8.6% ———- ———- NOI after indirect operating and leasehold expense $ 32,301 $ 27,977 15.5% ========== ========== Avg. annual rent per sq. ft. (4) $ 21.52 $ 21.17 1.7% Avg. sq. ft. occupancy 75.0% 69.6% 7.8% Total net rentable sq. ft. 4,078,000 4,078,000 Number of properties 72 72 As defined in 2003 (2) ——————————— Year ended December 31, ——————————— (in thousands except average rent) 2003(5) 2002(5) % Change ———- ———- ——— Storage center operations revenue $ 44,523 $ 41,714 6.7% Operating expense: Personnel expenses 5,435 4,832 12.5% Real estate taxes 1,714 1,830 -6.3% Repairs and maintenance 1,447 1,287 12.4% Marketing expense 2,309 2,150 7.4% Utilities and phone expenses 1,084 996 8.8% Cost of Goods Sold 1,466 1,084 35.2% Store admin and other expenses 2,718 2,712 0.2% ———- ———- Direct operating and real estate tax expense 16,173 14,891 8.6% ———- ———- NOI 28,350 26,823 5.7% Leasehold expense 1,167 1,062 9.9% ———- ———- NOI after leasehold expense 27,183 25,761 5.5% Indirect operating expense (3) 5,328 5,480 -2.8% ———- ———- NOI after indirect operating and leasehold expense $ 21,855 $ 20,281 7.8% ========== ========== Avg. annual rent per sq. ft. (4) $ 19.28 $ 18.66 3.3% Avg. sq. ft. occupancy 75.5% 73.5% 2.7% Total net rentable sq. ft. 2,736,000 2,736,000 Number of properties 47 47 (1) Amounts have been translated from local currencies at a constant exchange rate using the average exchange rate for 2004 for the 2004 to 2003 comparison and at 2003 average exchange rates for the 2003 to 2002 comparison. (2) Amounts have been translated from local currencies at a constant exchange rate using the average exchange rate for 2003 for the 2003 to 2002 comparison. (3) Indirect operating expense includes certain shared property costs such as district and regional management, national contracts personnel and marketing, as well as certain overhead costs allocated to property operations such as business information technology, human resources and accounting. It does not include internal real estate acquisition cost or abandoned development expense. Indirect operating expense is allocated to storage centers based on number of months in operation during the period. (4) Average annual rent per square foot is calculated by dividing actual rent collected by the average number of square feet occupied during the period. (5) The 2003 results were not consolidated in our Consolidated Financial Statements. Table 15: SHURGARD STORAGE CENTERS, INC. EUROPEAN 2004 ANNUAL COMPARISON Annual comparison for European same store of 2004 versus 2003 and the annual comparison for European same store of 2003 versus 2002 (unaudited) Percent change of 2004 compared to 2003 —————————– 2004 Number of Average Properties Occupancy Revenue NOI Occupancy Rate —————————– —– ——— —– Belgium 15 77.1% 4.2% 5.4% 1.5% 1.8% Netherlands 15 69.6% 10.6% 9.8% 10.3% 1.2% France 16 82.3% 11.6% 14.3% 11.0% -0.2% Sweden 17 72.2% 10.9% 10.4% 9.3% 2.1% Denmark 2 73.7% 22.5% 37.9% 16.8% 2.4% United Kingdom 7 72.9% 7.1% -0.6% 4.7% 2.6% ———- ———- ——- —– ——— —– Europe Totals 72 75.0% 9.5% 9.1% 7.8% 1.7% ========== ========== ======= ===== ========= ===== Percent change of 2003 compared to 2002 —————————– 2003 Number of Average Properties Occupancy Revenue NOI Occupancy Rate —————————– —– ——— —– Belgium 14 77.3% 1.2% -4.0% -0.9% 4.5% Netherlands 6 75.4% 10.7% 12.9% 5.2% 4.7% France 11 78.5% 14.2% 21.8% 6.1% 6.5% Sweden 11 70.9% -0.8% -5.8% 1.4% -3.0% United Kingdom 5 74.7% 7.0% 11.7% 7.3% 0.2% ———- ———- ——- —– ——— —– Europe Totals 47 75.5% 6.7% 5.7% 2.7% 3.3% ========== ========== ======= ===== ========= ===== Table 16: SHURGARD STORAGE CENTERS, INC. DOMESTIC YEAR TO DATE SAME STORE VINTAGE TABLE Domestic Same Store Vintage Analysis for the year December 31, 2004, 2003 and 2002 (unaudited) (In Total Net millions) Rentable Total sq. ft. Storage when Average Occupancy Number of Center all phases —————– Properties Cost (1) are complete 2004 2003 2002 ———— ———- ———– —– —– —– Same Store since 2004 60 $222.6 4,449,000 78% 74% 63% Same Store since 2003 30 137.2 1,845,000 84% 79% 69% Same Store since 2002 or prior 321 1,242.6 20,750,000 86% 85% 85% ————- ———- ———– —– —– —– Same Store total 411 $1,602.4 27,044,000 85% 83% 81% ============= ========== =========== ===== ===== ===== (In thousands) Average Annual Rent (per sq. ft)(2) Revenue ———————– —————————– 2004 2003 2002 2004 2003 2002 ——- ——- ——- ——— ——— ——— Same Store since 2004 $8.15 $7.84 $7.20 $30,937 $27,534 $14,658 Same Store since 2003 13.18 12.58 12.50 22,048 20,287 17,881 Same Store since 2002 or prior 12.04 11.82 11.84 235,084 227,576 226,125 ——- ——- ——- ——— ——— ——— Same Store total $11.53 $11.30 $11.47 $288,069 $275,397 $258,664 ======= ======= ======= ========= ========= ========= (In thousands) NOI (after leaseholds expenses) —————————— 2004 2003 2002 ——— ——— ———- Same Store since 2004 $18,810 $15,800 $7,349 Same Store since 2003 11,596 10,593 8,301 Same Store since 2002 or prior 160,413 154,748 155,562 ——— ——— ———- Same Store total $190,819 $181,141 $171,212 ========= ========= ========== (1) Total capitalized costs to storage centers since the store was acquired or developed. (2) Average annual rent per square foot is calculated by dividing actual rent collected by the average number of square feet occupied during the period. Table 17: SHURGARD STORAGE CENTERS, INC. EUROPEAN DEVELOPMENT European Development Performance Vintage Analysis for the year ended December 31, 2004, 2003 and 2002 (unaudited) (in Total Net Average Occupancy millions) Rentable —————– Number Total sq. ft. For the year ended, of Storage when all December 31, Prop- Center phases are —————– erties Cost (1) complete 2004 2003 2002 ——— ——— ———- ——– —– —– Opened in 2004 Germany 4 $ 28.0 202,000 5.0% – – France 4 24.7 217,000 1.9% – – Denmark 2 15.4 101,000 10.2% – – United Kingdom 3 32.4 123,000 28.9% – – ——— —— ———- ——– —– —– Total opened in 2004 13 $100.5 643,000 9.3% – – ========= ====== ========== ======== ===== ===== Opened in 2003 Belgium 1 $ 3.8 46,000 51.8% 4.9% – Netherlands 7 42.2 351,000 30.3% 2.1% – Germany 5 38.2 268,000 25.8% 2.6% – France 7 46.9 371,000 25.1% 3.1% – Sweden 2 12.5 94,000 36.2% 7.8% – Denmark 1 8.4 50,000 53.1% 9.5% – United Kingdom 3 34.0 149,000 34.4% 4.2% – ——— —— ———- ——– —– —– Total opened in 2003 26 $186.0 1,329,000 30.4% 3.5% – ========= ====== ========== ======== ===== ===== Opened in 2002 Belgium 2 $ 7.8 101,000 46.8% 33.7% 11.7% Netherlands 7 44.0 368,000 49.1% 29.7% 5.1% France 7 46.9 376,000 59.5% 35.0% 10.2% Sweden 3 20.2 151,000 66.5% 40.8% 12.5% Denmark 2 15.7 106,000 60.6% 25.1% 2.1% United Kingdom 3 35.4 163,000 61.2% 27.2% 3.7% ——— —— ———- ——– —– —– Total opened in 2002 24 $170.0 1,265,000 56.6% 32.2% 7.6% ========= ====== ========== ======== ===== ===== New Store Total 63 $456.5 3,237,000 36.5% 14.0% 7.6% ========= ====== ========== ======== ===== ===== Same store: —————— Opened in 2001 Belgium 1 $ 4.0 51,000 65.7% 53.5% 25.8% Netherlands 9 51.7 484,000 64.1% 54.2% 32.3% France 5 35.9 280,000 80.2% 65.2% 40.5% Sweden 6 35.7 315,000 69.4% 55.6% 28.3% Denmark 2 14.4 110,000 73.7% 63.1% 42.0% United Kingdom 2 22.2 102,000 61.8% 56.2% 47.1% ——— —— ———- ——– —– —– Total opened in 2001 25 $163.9 1,342,000 69.4% 57.7% 34.7% ========= ====== ========== ======== ===== ===== Opened in 2000 and before Belgium 14 $ 72.4 855,000 77.8% 77.3% 78.1% Netherlands 6 37.5 345,000 77.2% 75.4% 71.7% France 11 63.2 585,000 83.4% 78.5% 74.0% Sweden 11 68.0 677,000 73.5% 70.9% 70.0% United Kingdom 5 47.6 274,000 77.0% 74.7% 69.6% ——— —— ———- ——– —– —– Total opened before 2001 47 $288.7 2,736,000 77.8% 75.5% 73.5% ========= ====== ========== ======== ===== ===== Same Store Total 72 $452.6 4,078,000 75.0% 69.6% 60.1% ========= ====== ========== ======== ===== ===== (In thousands) Average Annual Rent (per sq. ft) (2) (3) Revenue (2) ———————— ————————– For the year ended, For the year ended, December 31, December 31, ———————— ————————– 2004 2003 2002 2004 2003 2002 —— —— —— ——- ——- ——- Opened in 2004 Germany $17.00 $ – $ – $ 193 $ – $ – France 21.77 – – 106 – – Denmark 18.95 – – 250 – – United Kingdom 19.56 – – 753 – – —— —— —— ——- ——- ——- Total opened in 2004 $19.17 $ – $ – $ 1,302 $ – $ – ====== ====== ====== ======= ======= ======= Opened in 2003 Belgium $14.49 $ 9.43 $ – $ 369 $ 24 $ – Netherlands 19.93 14.97 – 2,266 125 – Germany 14.20 7.62 – 1,069 61 – France 22.24 20.58 – 2,430 287 – Sweden 17.41 13.05 – 717 119 – Denmark 21.98 20.23 – 670 119 – United Kingdom 40.05 36.06 – 2,317 279 – —— —— —— ——- ——- ——- Total opened in 2003 $21.64 $18.11 $ – $ 9,838 $ 1,014 $ – ====== ====== ====== ======= ======= ======= Opened in 2002 Belgium $12.28 $12.18 $11.48 $ 625 $ 454 $ 122 Netherlands 18.82 18.95 14.76 3,614 2,266 152 France 19.93 20.56 19.89 5,183 3,142 632 Sweden 20.05 18.07 17.13 2,277 1,319 255 Denmark 21.44 20.76 10.70 1,503 607 5 United Kingdom 40.32 42.88 34.91 4,526 2,226 109 —— —— —— ——- ——- ——- Total opened in 2002 $22.14 $21.49 $17.85 $17,728 $10,014 $ 1,275 ====== ====== ====== ======= ======= ======= New Store Total $21.82 $21.15 $17.85 $28,868 $11,028 $ 1,275 ====== ====== ====== ======= ======= ======= Same store: —————— Opened in 2001 Belgium $15.42 $14.77 $14.02 $ 573 $ 449 $ 209 Netherlands 17.94 17.97 17.45 5,906 5,061 3,032 France 22.05 21.84 21.30 5,554 4,449 2,867 Sweden 18.24 17.50 17.77 4,612 3,602 1,875 Denmark 21.23 20.73 20.33 1,888 1,542 998 United Kingdom 41.01 41.85 37.87 2,876 2,706 2,082 —— —— —— ——- ——- ——- Total opened in 2001 $20.76 $20.68 $20.75 $21,409 $17,809 $11,063 ====== ====== ====== ======= ======= ======= Opened in 2000 and before Belgium $15.87 $15.61 $14.91 $11,684 $11,317 $10,949 Netherlands 22.26 21.45 20.47 6,383 6,052 5,457 France 26.29 26.25 24.66 14,271 13,323 11,702 Sweden 20.80 20.37 20.92 11,821 11,222 11,143 United Kingdom 32.40 31.18 31.13 7,673 7,144 6,687 —— —— —— ——- ——- ——- Total opened before 2001 $21.85 $21.36 $20.64 $51,832 $49,058 $45,938 ====== ====== ====== ======= ======= ======= Same Store Total $21.52 $21.17 $20.68 $73,241 $66,867 $57,001 ====== ====== ====== ======= ======= ======= (In thousands) NOI (2) (4) (after leasehold expenses) ——————————– For the year ended, December 31, ——————————– 2004 2003 2002 ——- ——- ——– Opened in 2004 Germany $ (887) $ – $ – France (625) (2) – Denmark (259) – – United Kingdom 84 – – ——- ——- ——– Total opened in 2004 $(1,687) $ (2) $ – ======= ======= ======== Opened in 2003 Belgium $ 110 $ (93) $ – Netherlands (357) (829) – Germany (915) (941) – France (783) (790) – Sweden (92) (314) – Denmark 232 (222) – United Kingdom 456 (204) – ——- ——- ——– Total opened in 2003 $(1,349) $(3,393) $ – ======= ======= ======== Opened in 2002 Belgium $ 89 $ (145) $ (255) Netherlands 1,253 51 (580) France 1,658 (5) (791) Sweden 1,008 186 (413) Denmark 560 (191) (254) United Kingdom 2,274 361 (274) ——- ——- ——– Total opened in 2002 $ 6,842 $ 257 $ (2,567) ======= ======= ======== New Store Total $ 3,806 $(3,138 ) $ (2,567) ======= ======= ======== Same store: —————— Opened in 2001 Belgium $ 317 $ 143 $ (57) Netherlands 2,532 1,907 (4) France 3,073 2,010 809 Sweden 2,133 1,399 (223) Denmark 873 633 107 United Kingdom 1,633 1,557 1,035 ——- ——- ——– Total opened in 2001 $10,561 $ 7,649 $ 1,667 ======= ======= ======== Opened in 2000 and before Belgium $ 7,549 $ 7,322 $ 7,630 Netherlands 3,983 4,020 3,561 France 7,993 7,596 6,248 Sweden 6,475 6,366 6,748 United Kingdom 4,521 4,634 4,153 ——- ——- ——– Total opened before 2001 $30,521 $29,938 $ 28,340 ======= ======= ======== Same Store Total $41,082 $37,587 $ 30,007 ======= ======= ======== (1) The actual completed cost of these projects are reported in U.S. dollars translated at the December 31, 2004 exchange rate of $1.36 to the euro. Operating results (see note (2) below) are reported at the average exchange rate for the year 2004 which was $1.24 to the euro. As these exchange rates are different we believe it does not allow for an accurate measure of property investment yield. We believe the application of a constant exchange rate to both the property cost and operating results would provide a more meaningful measure of investment yield. The cost of the storage centers excludes the excess cost of approximately $247 million we paid for part of our ownership interest acquisition in Shurgard Europe in 2003. (2) The amounts have been translated from local currencies at a constant exchange rate using the average exchange rate for 2004. (3) Average annual rent per square foot is calculated by dividing actual rent collected by the average number of square feet occupied during the period. On the year of opening the average annual rent is lower as the store had not been opened a full year. (4) Expenses in some instances may include certain pre- opening costs Table 19: SHURGARD STORAGE CENTERS, INC. STORE ASSET VALUES AND OPERATING INFORMATION For the three months ended December 31, 2004 (Unaudited) Weighted average (in thousands Net except for No. of ownership Rentable Occupancy Gross Book number of Square properties) Properties interest Feet (Q4 Avg) Value (7) ———- ——— ——— ——— ———– Same Store —————- Domestic wholly owned or leased (1) 328 100% 21,105 85% $1,264,519 Domestic consolidated joint ventures (2) 83 79% 5,939 83% 337,863 European consolidated subsidiary (4) 72 87% 4,078 77% 618,821 ———- ——— ——— ——— ———- Total Same Store 483 94% 31,122 84% $2,221,203 ========== ========= ========= ========= ========== New Store —————- Domestic wholly owned or leased developments (1) 22 100% 1,283 67% $ 119,395 Domestic consolidated joint ventures developments (2) 12 73% 728 61% 53,467 Domestic acquisitions (3) 27 96% 1,950 80% 153,784 European consolidated subsidiary developments (4) 30 87% 1,550 60% 296,200 European 20% development ventures developments (5) 32 17% 1,649 30% 225,466 European acquisition (3) 1 100% 38 88% 15,713 Domestic Properties under leasing arrangements (6) 3 0% 211 61% 22,481 ———- ——— ——— ——— ———- Total New Store 127 71% 7,409 60% $ 886,506 ========== ========= ========= ========= ========== TOTALS 610 89% 38,531 79% $3,107,709 ========== ========= ========= ========= ========== (in thousands Fair except for Applicable Q4 Q4 Leasehold value number of properties) debt ( 8 ) Revenue NOI (9) Expense of debt ———- ——— ——– ——— ——— Same Store —————- Domestic wholly owned or leased (1) $ 50,793 $ 59,399 $40,441 $1,116 $ 51,022 Domestic consolidated joint ventures (2) 154,046 13,335 9,066 25 161,184 European consolidated subsidiary (4) 313,797 19,691 11,783 426 313,797 ——– ——– ——- —— ——– Total Same Store $518,636 $ 92,425 $61,290 $1,567 $526,003 ======== ======== ======= ====== ======== New Store —————- Domestic wholly owned or leased developments (1) $ – $ 2,847 $ 1,175 $ 120 $ – Domestic consolidated joint ventures developments (2) 3,807 1,498 668 – 3,837 Domestic acquisitions (3) 36,095 4,517 2,798 – 36,232 European consolidated subsidiary developments (4) 140,614 6,175 2,650 69 140,614 European 20% development ventures developments (5) 137,764 2,920 (691) 61 137,764 European acquisition (3) – 430 247 – – Domestic Properties under leasing arrangements (6) – 584 297 – – ——– ——– ——- —— ——– Total New Store $318,280 $ 18,971 $ 7,144 $ 250 $318,447 ======== ======== ======= ====== ======== TOTALS $836,916 $111,396 $68,434 $1,817 $844,450 ======== ======== ======= ====== ======== 1 Includes owned and leased properties in which we have a 100% interest. 2 Includes properties in which we own an interest less than 100% but that are consolidated in our financial statements. The store information and results reflected the full 100% amounts. Our pro-rata share in the same store pool is approximately 79% and our pro-rata share in the new store pool is represents approximately 73%. 3 Includes all stores acquired in 2004 and 2003. 4 Includes properties developed under Shurgard Europe in which we hold an 87.23% interest. 5 Includes properties developed under First and Second Shurgard in which we hold a 17.4% interest. 6 Three storage centers are operated through a leasing arrangement with a California developer for which the storage centers assets are consolidated in our financial statements but not the store operations. 7 Gross Book Value represents the cost of developing properties at the time they were developed, not the value at which partners interests in the properties may have been acquired for at a later date. The actual completed cost of these projects are reported in U.S. dollars translated at the December 31, 2004 exchange rate of $1.36 to the Euro. Operating results are reported at the average exchange rate for the year ended December 31, 2004 which was $1.24 to the Euro. As these exchange rates are different we believe it does not allow for an accurate measure of property investment yield. However, we believe the application of a constant exchange rate to both the property cost and operating results may provide a more meaningful measure of investment yield. 8 Applicable debt represents debt secured against each asset pool. Represents Net Operating Income after Direct Expenses. The indirect expenses not included in NOI for Domestic 9 Same Store, European Same store, Domestic New Store and Europe Store are the following (in thousands except indirect expense per revenue dollar): Indirect expense Q4 indirect per revenue expense Q4 revenue dollar —————- —————– ————— Domestic Europe Domestic Europe Domestic Europe ——– ——- ——– ——– ——– —— Same Store $4,702 $2,483 $72,734 $13,335 $0.06 $0.19 —— —— ——- ——- —– —– New Store $ 646 $2,798 $ 9,446 $ 9,525 $0.07 $0.29 —— —— ——- ——- —– —– SOURCE: Shurgard Storage Centers, Inc. Shurgard Storage Centers, Inc. Dev Ghose or Stuart Blackie, 206-624-8100 or Broadgate Consultants, Inc. Alan Oshiki, 212-232-2222 (Media Contact) Copyright Business Wire 2005 News Provided by COMTEX
Parrédaction Publié Oct 21, 2005

Le site pour particuliers et professionnels dédié à l’actualité du Self Stockage en France et en Europe.

Le site self stockage est un blog dédié à l’actualité du Self Stockage en France et en Europe.

Parrédaction Publié Juil 12, 2005

L’imprimé sans adresse apprécié par 83 % des Français

Du 22 au 30 septembre dernier, TNS Sofres a réalisé pour Adrexo un sondage, auprès d’un échantillon de 1 000 personnes, représentatif des Français de plus de 15 ans, sur l’imprimé sans adresse.

Il en ressort que 91 % des Français reçoivent de la publicité sans adresse dans leur boîte à lettres et que 83 % d’entre eux aiment lire les prospectus et catalogues qu’ils y trouvent. D’ailleurs, en septembre, ils n’étaient que moins de 2 % à avoir apposé un autocollant « stop-pub » sur leur boîte. Par ailleurs, 52 % des lecteurs conservent les catalogues après les avoir lus et 43 % des Français, ayant reçu de la PNA, ont acheté un produit ou un service dans les deux mois suivant la lecture d’un prospectus ou d’un catalogue.

Apprécié, l’ISA l’est sans conteste, puisque 83 % des Français veulent en recevoir. Et ce, pour des raisons d’information – 69 % des lecteurs pensent que les catalogues et prospectus leur permettent d’être mieux informés – et d’économie – 57 % estimant que la PNA favorise la concurrence entre les grandes surfaces et limite la hausse des prix.

Avec les pages jaunes, les prospectus restent à ce jour le vecteur de prédilection pour les entreprises du self-stockage. Les mois de mai et juin sont ceux où ce concentre l’essentiel des campagnes.

Parrédaction Publié Juin 12, 2005

573 sites de self stockage en Angleterre

Les premiers résultats d’une grande enquête réalisée par Steel Storage, identifierait 573 sites de self stockage en Angleterre, dont 212 appartenant à de grands opérateurs.

Les résultats définitifs seront publiés en Juin, en attendant vous pouvez consulter l’étude provisoire au format pdf

Pour mémoire il y a à ce jour seulement 115 sites en France.

Parrédaction Publié Juin 10, 2005

Deal of the Year

The £209 million takeover of a storage company by a competitor five times smaller has been named the Birmingham Deal of the Year.

Safestore Holdings became the biggest self storage company in Britain after spending £209 million to acquire Mentmore Abbey.

The Hertfordshire firm is now the second largest storage company in Europe, with an annual turnover of £50 million.

Self-Stockage.info