Public Storage is engaged in the acquisition, development, ownership and operation of self-storage facilities which provides storage spaces for lease. At Dec 31 2012, Co. had equity interests in 2,078 self-storage facilities located in the U.S. operated under the Public Storage name. Co. owns one self-storage facility in England and has a 49.0% interest in Shurgard Europe, which owns 188 self-storage facilities located in seven Western European countries operating under the Shurgard name. Co. has equity interests of commercial space located in the U.S. primarily owned and operated by PS Business Parks, Inc. (PSB) under the PS Business Parks name. Co. has an approx. 41.0% interest in PSB.
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