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Bond Market News
Brookfield Asset, GIC Agree to Buy National Storage REIT
December 8, 2025
Brookfield Asset Management and Singapore’s GIC have agreed to a binding deal with National Storage REIT (NSR) to buy the latter for ~AUD $4bn ($2.7bn). As per a statement, shareholders will receive AUD 2.86/share ($1.90), which is a premium of ~26% compared to the stock’s price before the initial acquisition talks were disclosed last month. NSR’s board unanimously recommended that shareholders vote in favor of the transaction. The buyers noted their extensive global experience in the storage sector. The transaction is expected to be finalized in 2Q2026, pending regulatory approvals.
Brookfield’s dollar bonds were trading slightly weaker, with its 6.35% 2034s at 108.5, yielding 5%.
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