National Storage Affiliates Trust

Money Moves

Acquisition target

Public Storage agreed on March 16, 2026, to buy National Storage Affiliates Trust for $10.5 billion in stock, creating a combined enterprise of roughly $77 billion. The combined company will operate nearly 4,600 locations spanning 327 million square feet across 37 states and Puerto Rico—the largest self-storage deal since Extra Space absorbed Life Storage for $12.7 billion in 2023.

Updated May 30