National Storage REIT Settles Second Tranche of Development Assets

National Storage REIT ( (AU:NSR) ) just unveiled an update.

National Storage REIT (NSR) has announced the settlement of the second tranche of development assets by the National Storage Ventures Fund. This tranche involves the acquisition and development of six assets from NSR’s existing portfolio, with a total capital deployment of approximately $228 million. The transaction has resulted in net sale proceeds of around $140 million for NSR, 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 development is part of NSR’s strategy to expand its footprint independently while leveraging its balance sheet and development capabilities.

The most recent analyst rating on (AU: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.

More about National Storage REIT

National Storage is the largest self-storage provider in Australia and New Zealand, with over 270 locations offering tailored storage solutions to more than 94,500 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: 5,166,037

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$3.37B

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