Public Storage 8K

Public Storage completed a roughly $1.2 billion acquisition of Public Storage Canada, adding a 68-property Canadian portfolio and expecting the deal to be accretive to long-term returns, NOI growth, and FFO per share, with up to $288 million in additional earn-out consideration possible.

On September 1, 2026, Public Storage completed its acquisition of Public Storage Canada for approximately $1.2 billion in consideration at closing, consisting of about $900 million in Public Storage operating partnership units and $310 million in cash, with potential additional earn-out consideration of up to $288 million in OP units contingent on achieving specified NOI performance targets. The transaction brings under direct ownership a 5.3 million square foot, 68-property self-storage portfolio across major Canadian markets including Toronto, Vancouver, Montreal, Calgary, and Ottawa, which has long operated under the Public Storage brand. The company expects the acquisition to be accretive to its long-term internal rate of return, net operating income growth, and funds from operations per share, supported by applying its PS Next operating model, realizing operating efficiencies, and benefiting from favorable Canadian market fundamentals and lower-cost local borrowing. This deal further advances Public Storage’s strategic international expansion following the recent closing of the National Storage Affiliates Trust transaction and reunites the U.S. and Canadian Public Storage-branded operations under common ownership.

Filing Facts

CIK

1393311

Ticker

PSA

Form

8K

Source Type

sec

Accession

0001193125-26-377690

Alert Tier

8