Public Storage has completed its acquisition of Public Storage Canada, paying approximately $1.2 billion in a mix of OP units and cash, with potential earn-out of up to $288 million. The deal adds 68 properties with 5.3 million square feet across major Canadian markets, expected to be accretive to long-term IRR, NOI growth, and FFO per share. CEO Tom Boyle highlighted the strategic value and the reunification of the two companies under common ownership.
Public StorageCompleted $1.2B acquisition expected to be accretive to FFO per share.
