Blue Vista Capital Management, LLC (“Blue Vista”), in collaboration with UBS’s Unified Global Alternatives – Real Estate (UGA RE) business and Extra Space Storage (“EXR”), today announced the formation of a strategic collaboration to invest in self-storage assets in the U.S., which will have approximately $600 million in buying power to build a diversified self-storage portfolio.

The strategy is to identify core/core-plus, value-add and development opportunities across the U.S., with the goal of creating a portfolio of self-storage assets designed for a perpetual life investment vehicle. EXR will manage all investment made by the collaboration and brings to the collaboration its industry-leading property management services, technology, and resources as the largest operator of self-storage in the U.S.

Blue Vista has a 15-year track record of investing in self-storage acquisitions and developments in the U.S., with deep market knowledge, and execution and sourcing capabilities. Blue Vista has invested in 65 self-storage investments to date alongside sector-focused operators, including EXR.

“This collaboration represents the convergence of Blue Vista’s strong relationships alongside long-term operating partners and an existing investor, with our focus and conviction to the self-storage sector,” said Peter Stelian, CEO of Blue Vista Capital Management. “We are excited to be combining our expertise and resources with these trusted partners to pursue the venture’s goal of becoming the largest private owner of self-storage assets in the U.S. Self-storage has been one of our best asset classes in terms of performance and, with the combination of UGA RE’s global real estate expertise and EXR’s demonstrated “best in class” management capabilities, we believe we are positioned for excellence in performance for our clients and partners.”

“We look forward to joining forces with Blue Vista and UBS’s UGA Real Estate business in this strategic venture. By combining our self-storage expertise with this innovative investment approach, we’re positioned to unlock new opportunities and deliver value to our stakeholders,” said Joe Margolis, CEO of Extra Space. “At Extra Space, we pride ourselves on our operational excellence and we are excited to bring that excellence to this collaboration. Together, we are uniquely positioned to capitalize on the opportunities in the self-storage market, as self-storage has consistently proven to be one of the most resilient and high-performing asset classes in real estate.”

“This initiative reflects our commitment to innovative real estate strategies and long-term value creation,” said Colin Armstrong, Portfolio Manager, UBS’s UGA Real Estate business. “By aligning and combining our real estate experience with Blue Vista and Extra Space Storage, we’re leveraging complementary strengths to build a resilient, high-performing self-storage platform that meets the evolving needs of institutional investors.”

ABOUT BLUE VISTA

Blue Vista is a Chicago-based investment management firm focused on helping investors maximize returns through best-in-class real estate equity and credit strategies across the risk-return spectrum. Blue Vista offers investors the benefits of a vertically integrated platform, complementary strategies managed by experienced teams, and deep expertise as an owner, operator and lender across all property types and various markets in the U.S. and Canada. Since its inception in 2002, the firm has invested over $14.6 billion in total capitalization, with the goal of challenging the status quo, setting high standards and bringing a relationship-based, client-focused approach to real estate investing. For more information, please visit https://bluevistallc.com/.

ABOUT EXTRA SPACE

Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500. As of June 30, 2025, the Company owned and/or operated 4,179 self-storage properties, which comprise approximately 2.9 million units and approximately 321.5 million square feet of rentable storage space operating under the Extra Space brand. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States. For more information, please visit www.extraspace.com.

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