US EditionNational Storage REIT Agrees to $2.65 Billion Buyout by Brookfield–GIC Consortium
The A$4 billion cash deal includes a 26% premium per share and is expected to close by Q2 2026 after regulatory approval, backed unanimously by National Storage's board.
- On Dec 8, Brookfield Asset Management and GIC agreed a binding deal to buy Sydney-listed National Storage REIT for around A$4 billion, paying A$2.86 per share, representing about a 26.5 per cent premium.
- National Storage REIT operates more than 270 centres across Australia and New Zealand and attracted takeover interest earlier this year and in 2020 from Nathan Kirsh, Public Storage, and Warburg Pincus.
- The National Storage board unanimously recommended the offer, backing the transaction absent a superior proposal, and NSR shares hit a record A$2.810 on Monday.
- Subject to regulatory approvals and customary conditions, the deal is expected to close in the second quarter of 2026 and is the largest take-private of an Australian real estate firm, topping Brookfield's 2019 Aveo purchase.
- Market watchers note the bid is light versus the +18% historic average control premium for AREIT transactions from 2015 to 2025, which may reflect limited competitive tension.
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National Storage REIT agrees to $2.65 billion buyout by Brookfield–GIC consortium
Dec 8 (Reuters) – Australia’s National Storage REIT said on Monday it has signed a scheme implementation deed with a consortium backed by Brookfield Asset Management and Singapore’s GIC for a buyout deal valuing the self-storage operator at about A$4 billion ($2.65 billion). The deal follows National Storage’s late-November disclosure that it had received a non-binding proposal from the consortium, which offered NSR shareholders A$2.86 cash per …
National Storage REIT agrees to $4B takeover by Brookfield consortium
Save (0) Please login to bookmarkClose Username or Email Address Password Remember Me National Storage REIT has agreed to a takeover by a consortium of Brookfield Property and GIC Investments that values the self-storage investor at $4 billion. Subscribe to Lawyerly to access this article.Already a subscriber? Username or Email Address Password Remember Me Lost your password? The post National Storage REIT a…
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