All-stock merger: National Storage Affiliates Trust (NSA) to join Public Storage in Q3 2026

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National Storage Affiliates Trust (NSA) has announced a definitive agreement to be acquired by Public Storage in an all-stock transaction. This merger aims to combine complementary self-storage portfolios, creating a stronger operating platform with increased scale and enhanced digital capabilities. The transaction is expected to close in the third quarter of 2026, pending NSA equity holder approval and other customary closing conditions, with both companies operating independently until then.

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