Mergers & Acquisitions ·
Public Storage completed the acquisition of PS Canada Holdings, LLC on September 1, 2026, for an aggregate upfront…
PSAPublic Storage
Public Storage completed the acquisition of PS Canada Holdings, LLC on September 1, 2026, for an aggregate upfront purchase price of approximately $1.2 billion. The consideration consisted of approximately $900 million in common units of Public Storage Operating Partnership (valuing each unit at $321.98) and approximately $310 million in cash. PS Canada owns 68 self-storage facilities with approximately 5.3 million net rentable square feet across major Canadian metropolitan markets including Toronto, Vancouver, Montreal, Calgary, and Ottawa. The transaction includes potential earn-out consideration of up to 768,000 units valued at $375 per unit, contingent on achieving specific net operating income targets. Concurrently, Public Storage Operating Company fully drew down its previously disclosed $500 million delayed draw term loan facility. Public Storage is a real estate investment trust that primarily acquires, develops, owns, and operates self-storage facilities.