National Storage REIT Expands Ventures Fund with New Asset Tranche

National Storage REIT ( (AU:NSR) ) has shared an update.

National Storage REIT has entered into agreements with GIC for the National Storage Ventures Fund to invest in a second tranche of development assets. This tranche involves acquiring, developing, and operating six additional assets from NSR’s portfolio, with a total capital deployment of approximately $228 million. The acquisition is expected to generate net sale proceeds of about $140 million for NSR, which will be used to repay debt. NSR will maintain a 25% equity interest in the fund and continue to manage and develop the assets, reaffirming its earnings guidance and distribution policy.

The most recent analyst rating on (AU:NSR) stock is a Sell with a A$2.35 price target. To see the full list of analyst forecasts on National Storage REIT stock, see the AU:NSR Stock Forecast page.

More about National Storage REIT

National Storage is the largest self-storage provider in Australia and New Zealand, operating over 260 locations and serving more than 97,000 residential and commercial customers. It is the first independent, internally managed, and fully integrated owner and operator of self-storage centers listed on the Australian Securities Exchange (ASX).

Average Trading Volume: 5,779,853

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$3.23B

See more data about NSR stock on TipRanks’ Stock Analysis page.