Public Storage to Acquire National Storage Affiliates (NSA)
March 16, 2026
Public Storage (PSA) agreed to acquire National Storage Affiliates Trust (NSA) in an all-stock transaction valued at approximately $10.5 billion enterprise value. The deal offers an exchange ratio of 0.14 PSA shares (or partnership units) for each NSA share/unit and is expected to close in the third quarter of 2026, subject to approvals and customary conditions.
- Buyers
- Public Storage, Public Storage Operating Company (PSOC)
- Targets
- National Storage Affiliates Trust
- Industry
- Real Estate
- Location
- Colorado, United States
- Transaction Type
- Buyout
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