America's biggest public storage company is about to get even bigger

"Public Storage announced plans to acquire one of its main competitors, National Storage Affiliates. As of December 31, Public Storage operated 3,533 self-storage facilities across 40 states. As of the same date, National Storage Affiliates Trust operated 1,063 self-storage properties across 37 states and Puerto Rico."

"Under the terms of the proposed merger, the storage assets of the first- and fourth-largest storage companies will combine, making Public Storage's dominance in the public storage sector even more pronounced."

"Public Storage's incoming CEO, Tom Boyle, said that the deal will allow the company to strategically and accretively expand our platform with assets that are highly complementary with our portfolio, deepen our significant market presence, and enhance our long-term per share growth profile."

Public Storage announced its acquisition of National Storage Affiliates Trust, merging the first and fourth-largest self-storage providers in the United States. Public Storage operates 3,533 facilities across 40 states, while National Storage Affiliates operates 1,063 properties across 37 states and Puerto Rico. The combined entity will significantly enhance Public Storage's market position, which already leads the sector ahead of competitors Extra Space Storage and CubeSmart. Incoming CEO Tom Boyle stated the merger enables strategic expansion with complementary assets, deepens market presence, and enhances long-term per-share growth prospects.

Read at Fast Company