National Storage REIT Buys 4-Property Self-Storage Portfolio in Australia for $46.5M AUD

Australian self-storage operator National Storage REIT (NSR) has acquired a $46.5 million AUD property portfolio in the Australian Capital Territory. The deal includes three self-storage facilities in the Canberra market and one in New South Wales, according to the source.

Australian self-storage operator National Storage REIT (NSR) has acquired a $46.5 million AUD property portfolio in the Australian Capital Territory. The deal includes three self-storage facilities in the Canberra market and one in New South Wales, according to the source.

NSR’s entry to Canberra is the company’s first expansion into a new metropolitan market since being listed on the Australian Securities Exchange (ASE) in December 2013, the source reported. The acquisition will help solidify the operator’s presence in Australia, said Andrew Catsoulis, managing director.

The company reported a net profit of $15.56 million AUD for the 2014 fiscal year.

NSR now operates 73 self-storage centers in New South Wales, Northern Territory, Queensland, South Australia, Victoria and Western Australia. It’s the first independent, internally managed and fully integrated owner and operator of self-storage centers to be listed on the ASE.

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