The funds will be utilized to reduce the company’s existing debt and pursue acquisitions
March 30, 2015- The price represents a 4.5 percent discount to the March 25 closing price of $1.55 a share.
Morgan Stanley, the lead manager and underwriter for the placement, is seeking bids from investors today. The placement will represent 13.1 percent of NSR’s issued capital. The company last raised capital in August 2014, achieving $46 million at $1.25 a share.
National Storage REIT manages 80 self-storage facilities
in New South Wales, Northern Territory, Queensland, South Australia, Victoria and Western Australia. It is one of the first independent internally managed and fully integrated owner and operator of self-storage centers to be listed on the Australian Securities Exchange.
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