Public Storage to acquire PS Canada in USD1.2 billion deal

NYSE-listed REIT Public Storage has agreed to acquire Public Storage Canada (PS Canada) in a transaction valued at approximately USD1.2 billion (CAD1.67 billion).

The deal marks a significant expansion of the REIT's platform into major Canadian markets.

Under the terms of the agreement, Public Storage Operating Company (OP) will pay consideration at closing comprising approximately USD889 million in Public Storage OP units.