Public Storage completes USD 1.2 billion acquisition of Public Storage Canada - PSA News | RalliesPublic Storage completes USD 1.2 billion acquisition of Public Storage Canada
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PSA• Public Storage closes acquisition of Public Storage Canada
- Public Storage completed its acquisition of Public Storage Canada, taking direct ownership of a 68-property self-storage portfolio.
- Closing consideration totaled about USD 1.2 billion, including USD 900 million of Public Storage OP units and USD 310 million cash.
- The equity portion comprised 2,760,000 OP units valued at USD 321.98 each, subject to customary purchase price adjustments.
- Sellers can earn up to USD 288 million in additional OP units priced at USD 375, tied to NOI performance targets.
- Portfolio totals 5.3 million square feet across major Canadian markets, including Toronto, Vancouver, and Montreal.
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