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Public Storage to acquire NSA for $10.5 billion
PUBLIC · PSASep 19, 2026•about 2 hours ago
Acquiring Company
Public Storage
Acquired Company
National Storage Affiliates
Greenwood VillageReal Estate
Description
Public Storage has agreed to acquire National Storage Affiliates in an all-stock deal valued at approximately $10.5 billion. This acquisition will expand Public Storage's self-storage portfolio significantly. The transaction highlights the strategic importance of scaling within the self-storage market. Following the announcement, NSA's stock surged roughly 27 percent in premarket trading.
Company Information
Company
Public Storage
About
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At June 30, 2023, we had: (i) interests in 2,888 self-storage facilities located in 40 states with approximately 206 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR), which owned 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard® brand. Our headquarters are located in Glendale, California.
Additional information about Public Storage is available on the Company’s website at PublicStorage.com.
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70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed
Frequently asked
Who acquired National Storage Affiliates?
National Storage Affiliates was acquired by Public Storage. The deal was reported on September 19, 2026. Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. Public Storage is publicly traded (PSA).
When did Public Storage acquire National Storage Affiliates?
Public Storage's acquisition of National Storage Affiliates was reported on September 19, 2026. Public Storage has agreed to acquire National Storage Affiliates in an all-stock deal valued at approximately $10.5 billion. This acquisition will expand Public Storage's self-storage portfolio significantly. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does National Storage Affiliates do?
National Storage Affiliates is a real estate investment trust (REIT) that focuses on acquiring, owning, and operating self-storage facilities across the United States. It is privately held, operating in Real Estate, and is based in Greenwood Village.
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Greenwood VillageReal Estate