Brookfield and GIC Near Finalizing $1.8 Billion Bid for National Storage

Brookfield Asset Management and GIC, the Singapore sovereign wealth fund, are finalizing due diligence and preparing to make a binding offer for National Storage, according to sources familiar with the matter. The acquisition would mark a significant move by the two institutional investors into the U.S. self-storage sector, which has seen increasing consolidation amid rising demand for flexible storage solutions. The proposed deal values National Storage at around $1.8 billion, based on its current portfolio of 220 facilities across 29 states. These properties collectively house over 1.1 million units, with an average occupancy rate of 93.4% as of Q3 2025. The company reported annualized revenue of $325 million in the prior fiscal year, driven by steady rent growth and expanded ancillary services. Market participants view the potential acquisition as a strategic play on long-term demand for self-storage, fueled by urbanization, e-commerce growth, and the rise of remote work. The transaction, if completed, would position Brookfield and GIC as top-tier owners in the U.S. storage real estate market, surpassing the current footprint of major players like Public Storage and Extra Space Storage in certain regions. The deal is expected to trigger a wave of investor interest in the sector, particularly among global institutional funds seeking stable, inflation-resistant cash flows. National Storage’s board is expected to review the offer in the coming weeks, with a potential closing window set for early 2026.