Public Storage Cancels Offer to Balcor Co.
Public Storage Inc., a Glendale storage facilities company, withdrew its offer to buy a minority stake in a self-storage business run by Balcor Co.
The move followed Balcor’s announcement that holders of partnership interests in Balcor/Colonial Storage Income Fund 86 had voted to sell out to Storage Trust Properties for $67.1 million.
Public Storage, which already owned 7.8% of the Balcor partnership, had bid $26 million for an additional 39%.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
