After moving its headquarters to Frisco just last month, Public Storage is set to acquire National Storage Affiliates in an all-stock transaction valued at approximately $10.5 billion, significantly expanding its self-storage footprint.
“By applying our PS Next operating model to NSA’s portfolio, we see meaningful opportunity to enhance the customer experience, drive financial upside, and create significant value for shareholders over the near and long term as our industry emerges from the bottom of the self-storage operating cycle,” incoming Public Storage CEO Tom Boyle said.
The deal, which covers more than 1,000 properties across 37 states and Puerto Rico, is expected to close in the third quarter of 2026, following Public Storage’s headquarters move in the previous month. Public Storage will own 488 properties and form a joint venture for 313 additional assets…