FFO per share accretion is expected within one year, rising to about $0.35-$0.50 with $110-$130 million run-rate synergies in three to four years.
A joint venture was formed with 313 properties; legacy NSA limited partners hold about 80%, supported by $2 billion mortgage financing and $237 million mezzanine financing.
Public Storage completes acquisition of National Storage Affiliates
Public Storage completed its acquisition of National Storage Affiliates, expanding its platform to more than 4,500 properties and 327 million rentable square feet.
NSA shareholders received 0.14 of a Public Storage common share for each NSA common share.
The deal adds more than 1,000 properties, 550,000 units, and over 500,000 customers, with NSA brands transitioning to Public Storage branding.
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