Public Storage Announces Acquisition of Public Storage Canada

Summary

Public Storage, the largest owner of self-storage facilities, has entered into an agreement to acquire Public Storage Canada for approximately $1.2 billion. The transaction, primarily funded with Public Storage Operating Partnership Units and cash, is expected to provide attractive growth opportunities in major Canadian markets. The acquisition includes an existing Public Storage-branded portfolio and is expected to close in the second half of 2026, subject to customary closing conditions.