A $10.5 billion deal would create a self-storage giant in the U.S.

2026-03-17 08:41:08

Public Storage announced an all-stock deal to acquire National Storage Affiliates for approximately $10.5 billion, creating a self-storage behemoth with 327 million square feet across nearly 4,600 U.S. locations. This merger combines the largest and fourth-largest U.S. self-storage companies by market capitalization, aiming to expand Public Storage’s presence in high-growth regions like the Sun Belt. The deal, which includes the formation of a joint venture for some properties, is expected to close in the third quarter pending approvals.

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