The National Storage REIT (ASX: NSR) share price is in focus today after the company announced that court approval has been granted for its proposed schemes, paving the way for its acquisition by a consortium led by Brookfield Funds and GIC Investor affiliates.
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What did National Storage REIT report?
- The Supreme Court of NSW has approved the share scheme of arrangement and provided advice on the trust scheme.
- All issued stapled securities of National Storage REIT will be acquired by entities jointly owned by the Brookfield Funds consortium and GIC Investor affiliates.
- Lodgement of court orders and constitution changes has occurred with ASIC, making the schemes legally effective.
- Trading in NSR securities is expected to be suspended from the close of trading today.
- Scheme Record Date: 7.00pm (Sydney time), 29 April 2026.
- Implementation Date: 8 May 2026, with scheme consideration to be paid to securityholders.
What else do investors need to know?
National Storage REIT has now met all legal and procedural requirements to implement the transaction. This means the previously announced acquisition is proceeding as planned, with no expected delays at this time.
The effective suspension of trading marks the transition of NSR from a listed entity to ownership by the Brookfield consortium, subject to the final implementation steps. Securityholders will receive their scheme consideration after the implementation date.
Both the record date for determining entitlements and the implementation date are still indicative and could change if necessary. Any changes will be announced to the ASX.
What's next for National Storage REIT?
Looking ahead, the focus shifts to finalising the transaction. Securityholders should expect payment of consideration on or shortly after 8 May 2026, subject to confirmation of final dates.
National Storage's business will move under the private ownership of the Brookfield consortium, marking a new chapter for the company and its customers across Australia and New Zealand.
National Storage REIT share price snapshot
Over the past 12 months, National Storage REIT shares have risen 27%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 15% over the same period.
