What happened, and who moved.
Public Storage announced the anticipated closing date for its acquisition of National Storage Affiliates following shareholder approval.
Public Storage announced pricing of a $900 million senior notes offering at 4.855% effective interest rate to finance its acquisition of National Storage Affiliates Trust.
Public Storage investor presentation on its acquisition of a Canadian self-storage portfolio.
Public Storage agreed to acquire National Storage Affiliates Trust in an all-stock transaction (0.14 PSA shares per NSA share, implying $41.68/share) valued at approximately $10.5 billion enterprise value. Ahead of closing, a joint venture holding 313 NSA properties (~$3.3B) will be formed, with NSA OP unitholders retaining about 80%. Expected to close Q3 2026, subject to NSA shareholder approval.