GIC, Brookfield enter $3.442b deal to acquire National Storage REIT

The buyout was considered the largest take-private deal of an Australian real estate firm.

GIC and Brookefield Asset Management consortium announced a $3.442b (AU$4b) takeover of National Storage REIT (NSR).

According to a bourse filing, NSR securityholders will be entitled to receive in cash the deal consideration of $2.46 (AU$2.86) per stapled security in NSR.

The buyout was considered the largest take-private deal of an Australian real estate firm, topping Brookfield's $883m (AU$1.27b) purchase of Aveo Group in 2019.

The NSR board unanimously recommended the deal and said that they will back the transaction in the absence of a superior proposal.

If the transaction is successful, the takeover is expected to be complete in the second quarter of 2026.

National Storage was established in 1995 and serves residential and commercial customers in Australia and New Zealand.

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