TORONTO – Canada’s Brookfield and Singaporean sovereign wealth fund GIC have made a takeover offer for National Storage REIT, an Australian self-storage company, valued at about A$4 billion or the equivalent of roughly C$3.7 billion.
National Storage confirmed it has received an unsolicited, non-binding, indicative and conditional proposal.
The company has about 94,500 residential and commercial customers at more than 270 storage centres across Australia and New Zealand.
Under terms of the offer, National Storage securityholders would receive A$2.86 cash per stapled security.
The offer is being made on the basis that a dividend or distribution of six Australian cents may be paid, in which case, the cash payable per stapled security will be reduced by the same amount.
National Storage has given the consortium making the offer until Dec. 7 to conduct due diligence and put forward a binding offer.
This report by The Canadian Press was first published Nov. 26, 2025.
Companies in this story: (TSX:BN, TSX:BAM)
