National Storage stock exits ASX after Brookfield-GIC takeover

National Storage has moved from the public market into private ownership after Brookfield and GIC completed their takeover of the Australian self-storage operator on May 8, 2026, according to a company history read on November 11. The deal was cited at about AUD 6.7 billion in a November 5 review by Clayton Utz.

A listed trust leaves the market

National Storage REIT securities stopped trading on the Australian Securities Exchange after court approval of the scheme on April 21, 2026, with the transaction completing in May, according to the National Storage corporate history. The change removes the former ASX-listed trust from the public equity market and shifts future ownership decisions to Brookfield and Singaporean sovereign investor GIC.

Private ownership changes the investor lens

Clayton Utz placed the transaction within a wider increase in Australian public-to-private deals. Its review said sponsors are targeting cash-generative listed businesses trading at conservative valuations, while private ownership can reduce short-term market pressure and support a longer investment horizon. For former National Storage securityholders, the takeover therefore marks an exit event rather than a continuing listed-equity story.

National Storage's operating business

National Storage owns and operates self-storage centres and provides storage solutions for residential and commercial customers in Australia and New Zealand. The company describes itself as one of Australia's largest self-storage providers, with more than 250 centres and over 90,000 customers on its investor website. It competes with family-owned Kennards Self Storage and Storage King, while its scale and integrated ownership model distinguish it from smaller operators.

Australia's broader equity market is represented by the S&P/ASX 200.

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