Public Storage to acquire PS Canada for $1.2B in strategic Canadian expansion

Public Storage agreed to acquire Public Storage Canada, the third-largest self-storage platform in Canada, for approximately $1.2 billion USD, funded primarily through operating partnership units and cash. The acquisition marks the company's entry into major Canadian markets with a portfolio of 68 properties totaling 5.3M square feet and an 83% occupancy rate, offering double-digit IRR potential.