The Sydney-listed company operates more than 270 storage centres across Australia and New Zealand
Published Wed, Nov 26, 2025 · 08:58 AM — Updated Wed, Nov 26, 2025 · 01:16 PM
[LONDON] Brookfield Asset Management and Singapore’s GIC offered to buy Sydney-listed National Storage Reit in a deal valuing the self-storage provider at A$4 billion (S$2.6 billion).
Investors in National Storage will receive A$2.86 for each share, the company said on Wednesday (Nov 26). The shares closed on Tuesday at A$2.26 and were halted for the announcement.
National Storage said that it will let the bidding group carry out exclusive due diligence until Dec 7 in order to generate a binding offer. The company said it aims to strike a deal with the suitors by that date.
National Storage operates more than 270 storage centres across Australia and New Zealand. It’s the largest self-storage provider in Australia.
A deal would help rejuvenate dealmaking in Australia, where activity has stumbled with the collapse of potential blockbuster deals, including BHP Group’s aborted approach for US$43 billion rival Anglo American.
The volume of mergers and acquisitions involving Australian companies as either targets or sellers has fallen to around US$70 billion this year, a 30 per cent decline from the same period in 2024, according to data compiled by Bloomberg.
GIC, one of the world’s largest sovereign wealth funds, does not publicise its assets under management, but Global SWF estimates the firm manages assets worth US$936 billion. In July, GIC said that real estate valuations were potentially bottoming, presenting attractive investment opportunities. BLOOMBERG
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