LifeStorage, L.P. ('LifeStorage' or 'the company'), an owner, acquirer and operator of premier self-storage facilities, committed to creating easy and friendly customer experiences, announced today that it has secured an $120 million investment from TPG Real Estate ('TPG'), the real estate platform of TPG, a leading global private investment firm. Additional terms of the transaction were not disclosed.

'We are excited about our partnership with TPG and are poised to quickly lever its deep real estate and operational expertise to accelerate our growth strategy by expanding our portfolio of premier storage facilities,' said Mark Good, Chief Executive Officer of LifeStorage. 'We are committed to delivering the very best storage solutions and TPG provides us the flexibility to invest in high-quality facilities at locations that add value for our portfolio and customers.'

LifeStorage will use TPG's investment to support its acquisition strategy in the top 50 markets across the U.S., as the company continues to scale successfully.

'Not only is there strong continued demand for self-storage, but the industry also remains very fragmented, which should provide opportunities for further consolidation and attractive follow-on acquisitions,' said Avi Banyasz, partner and co-head of TPG Real Estate. 'Mark and his team have built a leading self-storage company in LifeStorage, and we are excited to be a partner in the company's continued success.'

LifeStorage also announced that Jasper Ridge Partners has made a follow-on investment in the company. The investments supplement LifeStorage's recently announced $100 million revolving line of credit secured from Citigroup Global Markets.

LifeStorage clusters its facilities in strategic locations, enabling the company to offer convenient and diverse storage options. LifeStorage has a rigorous selection criteria for acquiring facilities, including property amenities, high security standards, and a retail-like environment that is clean and brightly lit, to create an excellent customer experience.

About LifeStorage

LifeStorage is an owner, acquirer and operator of premier self-storage facilities, committed to be the best self-storage option for customers, the best employer and neighbor in the communities it serves while laser focused on creating value for investors. LifeStorage offers best-in-class storage solutions with high-quality customer service, engaged and knowledgeable employees, convenient locations, operating with impeccable housekeeping standards, as well as a full suite of customer focused amenities including climate-controlled units, drive-in access, and value-added services such as fully furnished office spaces and meeting rooms.

Founded in 2011, LifeStorage is headquartered in Roseville, CA. The company currently owns, has under purchase agreement and operates 78 properties in 9 states across the U.S as of September 30, 2014. For more information, please visit www.LifeStorage.com.

About TPG Real Estate

TPG Real Estate, the real estate platform of TPG, has invested over $2.6 billion of equity in North America and Europe since 2009. Some of TPG Real Estate's well-known investments include ST Residential, Taylor Morrison Home Corporation (NYSE:TMHC), MWest Properties, Enlivant (formerly Assisted Living Concepts), and most recently, Evergreen Industrial Properties. TPG Real Estate leverages the deep sector and operating resources of TPG, a leading global private investment firm founded in 1992 with $66 billion of assets under management. TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings. For more information visit www.tpg.com.

About Jasper Ridge Partners

Jasper Ridge Partners provides discretionary investment management services and customized solutions to prominent families, foundations and global institutions. Jasper Ridge manages more than $11 billion in assets, with expertise across all major asset classes, including public equity, fixed income, hedge funds, private equity, venture capital, real estate and natural resources. For more information, please visit www.jasperridge.com.