By Mateo Roman Sy, Nathaline Marielle, Jeongmin Oh, Linh Nguyen, and Parth Talwar (University of Hong Kong); Rasmus Sjögren, Nikolas Kakona, Haris Jasarevic and Alexander Henje (Stockholm School of Economics) Photo: Pedro Lastra (Unsplash) Overview of the deal Acquirer: Brookfield and GIC Target: National Storage REIT Implied Equity Value: A$4 billion (approx. US$2.7 billion) Total Transaction Size: A$6.7 billion (~US$4.5 billion) Closed Date: Q2 2026 Target Advisor: Citi & J