Public Storage Completes $1.2 Billion Acquisition of Public Storage Canada

Public Storage completed its acquisition of PS Canada on September 1, 2026, paying approximately $900 million in Public Storage OP units and $310 million in cash, with potential earn-out consideration of up to $288 million in OP units. The deal adds 68 Canadian self-storage properties totaling 5.3 million square feet across Toronto, Vancouver, Montreal, Calgary, and Ottawa; Public Storage expects high-single-digit near-term NOI growth and says the acquisition should be accretive to long-term IRR, NOI growth, and FFO per share.