The Canadian investment company Brookfield Asset Management Ltd. Singapore-based GIC Pte and Singapore-based GIC Pte have entered into an agreement to acquire Australian data storage service provider National Storage REIT for 4 billion Australian dollars ($2.7 billion). This is reported in a Brookfield press release.
As part of the deal, National Storage shareholders will receive $2.86 per share (26% higher than the closing price on November 2, 2025). The transaction is expected to be completed in the second quarter of 2026 after regulatory approval.
Earlier, National Storage allowed an exclusive legal review of the company until December 7 in order to prepare for the conclusion of the transaction.
The deal could serve as a driver for the revival of the Australian market, which turned out to be relatively weak in 2025. In particular, EQT AB and CVC Asia Pacific Ltd. terminated negotiations on the acquisition of the Australian AUB Group Ltd. for 5.2 billion Australian dollars, and BHP Group rejected a new offer to acquire Anglo American Plc.
Brookfield Asset Management Ltd. is a Canadian—American alternative asset management company. The company invests in real estate, infrastructure, renewable energy, private equity and credit markets. Brookfield manages assets worth $1 trillion. In December 2024, the headquarters of Brookfield Asset Management was moved from Toronto (Canada) to New York (USA).
GIC Private Limited is a Singapore—based asset management investment company. The company invests in stocks, real estate and infrastructure, and also offers fund management, investment strategies, and financial planning services. The headquarters is located in Singapore.
National Storage REIT is an Australian company in the field of data storage for private and commercial clients. The company serves more than 97,000 customers in 270 centers in Australia and New Zealand and manages a large portfolio of individual data storage facilities. The headquarters is located in Brisbane (Australia).
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