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Public Storage to Buy National Storage Affiliates For $10.5B
Public Storage has announced an all-stock acquisition of National Storage Affiliates Trust for $10.5 billion. This deal will add over 1,000 properties with 550,000 units across 37 states and Puerto Rico to Public Storage’s portfolio. The acquisition, set to close in the third quarter, aims to expand Public Storage’s platform and market presence despite a recent decline in self-storage demand.