National Storage REIT’s A$175 million equity raising

Allens has advised ASX-listed National Storage REIT (NSR) on the transaction

NSR is one of the largest self-storage providers in Australia and New Zealand, and is the first independent, internally managed and fully integrated owner and operator of self-storage centres to be listed on the Australian Securities Exchange.

The raising comprises an A$50 million institutional placement and an A$125 million pro-rata accelerated non-renounceable entitlement offer.

The capital raising was announced on 22 August 2018, with successful completion of the institutional placement and institutional component of the entitlement offer announced on 24 August 2018.

The retail component of the entitlement offer is due to close on 7 September 2018.

Allens Advised with a team including Chelsey Drake (Picture), Alexandra Feros, Aidan Shanley and Mark Young.

Involved fees earner: Chelsey Drake – Allens; Alexandra Feros – Allens;

Law Firms: Allens;

Clients: National Storage REIT;

Author: Michael Patrini