National Storage REIT has received a AUD4.02bn ($2.6bn) buyout proposal from a consortium led by Brookfield and Singapore’s GIC, marking what would be Australia’s largest real-estate take-private deal.
The offer of AUD2.86 per share represents a 26.5% premium to the previous close. National Storage has granted the consortium exclusive due-diligence access until 7 December. National Storage is Australia’s largest self-storage operator, with more than 270 sites across Australia and New Zealand and roughly 94,500 customers.
The sector’s non-cyclical profile has attracted sustained global investor interest. It previously drew approaches from Warburg Pincus and Public Storage, although no deal emerged.
