National Storage REIT has agreed to be acquired by a consortium comprising Brookfield Asset Management and Singapore’s GIC in a deal valuing the self-storage operator at approximately AUD4 billion in equity value, or AUD6.7 billion including debt.
Under a scheme implementation deed signed on 8 December 2025, National Storage REIT securityholders will receive AUD2.86 cash per stapled security, subject to a potential 6 cent distribution for the half year ending 31 December 2025.
If that distribution is paid, the cash consideration would be reduced accordingly.
National Storage REIT operates more than 290 self-storage centres across Australia and New Zealand, providing over 1.6 million square metres of storage space to in excess of 100,000 residential and commercial customers.
The REIT listed on the Australian Securities Exchange in December 2013, and the current offer represents a 438 % total return to investors who participated in that initial public offering.
Related: Brookfield and GIC make takeover proposal for National Storage REIT
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