Sovran Self Storage, Inc. (NYSE:SSS), a self-storage real estate investment trust (REIT), today announced the acquisition of twenty-one self-storage facilities by Sovran HHF Storage Holdings LLC (the Venture), a recently announced joint venture. The Venture, formed with an affiliate of Heitman LLC, expects to acquire up to $350 million of high quality self-storage properties. $144 million was expended on this portfolio; Sovran will contribute 20% of the Venture’s equity, and Heitman 80%.

The twenty-one stores encompass a total of 1.6 million square feet of net rentable storage space. Eleven of the stores are located in markets where Sovran already has a presence; two each in Tampa, FL and San Antonio, TX; six in Dallas, TX; and one in Houston, TX. The remaining ten stores represent new markets including four in Columbus, OH; two in Louisville, KY; and four in Denver, CO. On behalf of the Venture, Sovran will manage the stores and re-brand all locations under its trade name of Uncle Bob’s Self Storage®.

David Rogers, Sovran’s Chief Financial Officer commented, “We are thrilled to launch our joint venture program with the acquisition of such an attractive group of properties. These are Class A stores in excellent markets, and we look forward to bringing them into the Uncle Bob’s® family.”

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 operates 380 self-storage facilities in twenty-four states under the name "Uncle Bob's Self Storage"®.

For more information, please contact David L. Rogers, CFO or Diane Piegza, VP Corporate Communications at 716-633-1850 or browse the Company’s Web Site at http://www.sovranss.com.

Sovran Self Storage, Inc.
David L. Rogers, CFO
or
Diane Piegza, VP Corporate Communications
716-633-1850
http://www.sovranss.com