Public Storage closes acquisition of National Storage Affiliates

National Storage Affiliates Trust
Public Storage

National Storage Affiliates Trust

NSA

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Public Storage

PSA

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  • Public Storage completed its acquisition of National Storage Affiliates, expanding its platform to more than 4,500 properties and 327 million rentable square feet.
  • NSA shareholders received 0.14 of a Public Storage common share for each NSA common share.
  • The deal adds more than 1,000 properties, 550,000 units, and over 500,000 customers, with NSA brands transitioning to Public Storage branding.
  • FFO per share accretion is expected within one year, rising to about $0.35-$0.50 with $110-$130 million run-rate synergies in three to four years.
  • A joint venture was formed with 313 properties; legacy NSA limited partners hold about 80%, supported by USD 2 billion mortgage financing and USD 237 million mezzanine financing.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Public Storage published the original content used to generate this news brief via Business Wire (Ref. ID: 202607220915BIZWIRE_USPR_____20260722_BW542295) on July 22, 2026, and is solely responsible for the information contained therein.

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