04:41 PM EDT, 06/22/2026 (MT Newswires) -- Public Storage ( PSA ) said late Monday it agreed to acquire Public Storage Canada in a transaction valued at about $1.2 billion.

Under the agreement, Public Storage Operating Company will pay consideration of approximately $1.2 billion at closing, comprising about $889 million of Public Storage OP units and roughly $310 million in cash, subject to customary purchase price adjustments.

The transaction also includes the potential for sellers to receive earn-out consideration of up to $288 million in Public Storage OP units priced at $375 per unit, contingent on the achievement of certain net operating income performance targets.

The acquisition is expected to close in H2, according to the company.