SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
December 29, 2000
Date of Report
(Date of earliest
event reported)
SHURGARD STORAGE CENTERS, INC.
(Exact name of registrant as specified in its charter)
Washington 0-23466 91-1603837
(State or other (Commission (IRS Employer
jurisdiction of File No.) Identification No.)
incorporation)
1155 Valley Street, Suite 400
Seattle, Washington 98109
(Address of principal executive offices, including zip
code)
(206) 624-8100
(Registrant's telephone number, including area code)
Item 5. Other Events
On December 29, 2000, the development joint venture with
affiliates of JP Morgan Partners ("JPMP" formerly Chase Capital
Partners) in which Shurgard Storage Centers, Inc. owns a 20%
interest acquired 21 properties developed by Shurgard during 2000.
General Electric Capital Corporation provided non-recourse
acquisition financing in the amount of $67.7 million. The joint
venture funded the acquisitions through the GECC loan together
with equity contributions of approximately $36 million and $9
million, from JPMP and Shurgard, respectively. Total construction
cost of the 21 properties, upon construction completion, is
expected to be approximately $112.8 million. Shurgard used
proceeds obtained from contribution of the properties to the joint
venture to pay down its line of credit and for other general
corporate purposes.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
SHURGARD STORAGE CENTERS, INC.
Dated: January 17, 2001
By /s/Harrell Beck
Harrell Beck, Chief Financial Officer
