National Storage REIT Settles Second Tranche of Development Assets, Securing $228 Million Capital Deployment and $140 Million Net Sale Proceeds.

National Storage REIT has settled the second tranche of development assets, involving the acquisition and development of six assets with a total capital deployment of approximately $228 million. The transaction resulted in net sale proceeds of around $140 million, which will be used to repay debt. NSR and GIC will maintain equity interests of 25% and 75%, respectively, with NSR continuing as the fund manager and developer, earning fees for its services. This is part of NSR's strategy to expand its footprint independently while leveraging its balance sheet and development capabilities.

National Storage REIT (NSR) has recently announced the settlement of the second tranche of development assets, involving the acquisition and development of six assets from its existing portfolio. The total capital deployment for this tranche is approximately $228 million, with net sale proceeds amounting to around $140 million. These proceeds will be used to repay debt, further solidifying NSR's financial position.

In this transaction, NSR and GIC will maintain equity interests of 25% and 75%, respectively. NSR will continue as the fund manager and developer, earning fees for its services. This development is part of NSR's strategy to expand its footprint independently while leveraging its balance sheet and development capabilities.

NSR, the largest self-storage provider in Australia and New Zealand, has over 270 locations and serves more than 94,500 residential and commercial customers. The company is the first independent, internally managed, and fully integrated owner and operator of self-storage centers listed on the Australian Securities Exchange (ASX). The recent transaction underscores NSR's commitment to growth and financial stability.

The most recent analyst rating on NSR stock is a Sell with a A$2.55 price target. To see the full list of analyst forecasts on National Storage REIT stock, see the AU:NSR Stock Forecast page.

References:
[1] https://www.tipranks.com/news/company-announcements/national-storage-reit-settles-second-tranche-of-development-assets
[2] https://www.nasdaq.com/articles/whitestone-expands-portfolio-acquisition-5000-south-hulen
[3] https://www.gurufocus.com/news/2932834/stilwell-josephs-strategic-acquisition-in-wheeler-real-estate-investment-trust-inc