The growth of National Storage Real Estate Investment Trust (NSR) as self storage specific listed investment has heightened awareness of the self storage industry in financial and banking sectors.
NSR has successfully continued to build its portfolio through acquisitions and now has 94 storage facilities throughout Australia and New Zealand. NSR’s FY 2016 results showed total value of assets at approximately $620 million.
In June 2016 NSR completed their largest transaction with the acquisition of the 90% interest in the 26 facilities (13,000 storage units) in the Southern Cross self storage portfolio (controlled by Heitman) for a reported $285 million. NSR has also completed an additional 26 acquisitions in Australia and New Zealand in FY 2016. These additional acquisitions totalled approximately $232 million and added 16,000 square metres of storage space to their portfolio.