National Storage REIT has confirmed that the Supreme Court of New South Wales has approved the acquisition schemes, making them legally effective as of 21 April 2026. This represents a significant milestone in the takeover process, as a consortium comprising Brookfield Funds and affiliates of GIC Investor will acquire all issued stapled securities of NSR. The Court’s approval of both the share scheme of arrangement and the judicial advice for the trust scheme removes a major hurdle in the transaction’s path to completion.
The schemes have now progressed beyond the court approval stage to formal implementation. NSR has lodged the necessary documentation with the Australian Securities and Investments Commission, including an office copy of the Court orders and the executed Supplemental Deed amending the constitution of the National Storage Property Trust. Trading in NSR securities is expected to be suspended from the close of trading on 21 April 2026, signalling the market that the company is transitioning toward the final implementation phase.
The timeline for completing the transaction is now clearly defined. The Scheme Record Date, which determines entitlements to Scheme Consideration, is set for 7.00pm Sydney time on 29 April 2026. The Implementation Date, when the transaction will be finalised and scheme consideration will be paid to securityholders, is expected to occur on 8 May 2026. Both dates carry an indicative status, meaning adjustments remain possible and would be announced to the ASX if circumstances change.
For investors holding NSR securities, this announcement confirms the acquisition price and timeline agreed through the earlier scheme booklet process. National Storage operates as Australia and New Zealand’s largest self-storage provider, with over 290 locations serving more than 100,000 residential and commercial customers. The acquisition by this consortium values the business at a level that the Court deemed fair and reasonable to scheme members, and the judicial approval indicates the transaction has met all regulatory and legal requirements.
The next critical dates for investors to monitor are the Scheme Record Date on 29 April and the Implementation Date on 8 May 2026. Scheme securityholders who have questions about the transaction process can contact the NSR Securityholder Information Line on 1300 119 147 (within Australia) or +61 3 9415 4681 (outside Australia) during business hours Monday to Friday. This announcement has been classified as price sensitive and flagged as material by the ASX.
View the full ASX announcement (PDF)
About National Storage REIT (ASX: NSR)
National Storage REIT is the largest self-storage provider in Australia and New Zealand, operating over 290 storage centres serving over 100,000 residential and commercial customers. The company generates revenue primarily from rental income supplemented by ancillary services such as packaging materials, locks, and insurance. It is the first independent, internally managed and fully integrated owner and operator of self-storage centres listed on the Australian Securities Exchange.
If you would like to discuss this announcement or how it might affect your portfolio, request a callback or call us on 1300 889 603.
