Public Storage to Acquire Public Storage Canada for $1.2 Billion
Public Storage (NYSE: PSA) will acquire Public Storage Canada for approximately $1.2 billion USD ($1.67 billion CAD), marking the largest U.S. self-storage REIT's entry into the Canadian market.
Public Storage (NYSE: ) will acquire Public Storage Canada in a transaction valued at approximately $1.2 billion USD ($1.67 billion CAD), the company announced Monday [1]. The deal involves Public Storage's operating partnership, Public Storage OP, L.P., and Public Storage Operating Company entering into a definitive agreement to purchase the entire PS Canada platform [1].
The acquisition represents Public Storage's first entry into Canadian markets, expanding the geographic footprint of the largest owner of self-storage facilities in the United States beyond domestic borders. The PS Canada platform was built by an industry visionary, though the announcement provided no further details on the portfolio's size, property count, or market concentration [1].
Continue reading
3 more paragraphs for subscribers.
Free readers get a daily preview and the weekly long-form. Premium unlocks every brief in full, AM & PM editions, alerts, and the archive.