Sovran Self Storage, Inc. Announces Acquisition of 23 Properties

Sovran Self Storage, Inc. (NYSE:SSS) (www.unclebobs.com/company), a self storage real estate investment trust (REIT), today announced the acquisition of 22 Texas self storage facilities for a total cost of $111 million. All of the stores are located in the Company’s existing markets: 18 in Houston, 3 in Austin, and 1 in Dallas-Fort Worth.

The stores encompass a total of 1.3 million square feet of net rentable storage space and will be re-branded under the Company’s trade name of Uncle Bob’s Self Storage®. Funding for the acquisition was provided by proceeds drawn on the Company’s Line of Credit and cash flow from operations.

David Rogers, the Company’s Chief Financial Officer commented, “The addition of this Class A portfolio expands our footprint in the leading Texas markets and strengthens our presence considerably.”

The Company also announced that in a separate transaction it acquired one storage facility in Atlanta, GA, at a cost of $9.5 million. The store has 69,000 sq. ft. of rentable space, and is the 16th Uncle Bob’s location in the Atlanta market.

About Sovran Self Storage, Inc.

Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. The Company owns and/or manages 431 self storage facilities in twenty-five states under the name "Uncle Bob's Self Storage"®. For more information, visit www.unclebobs.com, like us on Facebook, or follow us on Twitter.

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