Form 8-K · Current report
Public Storage 8-K, filed Sep 1, 2026
- Filed
- CIK
- 0001393311
- Accession no.
- 0001193125-26-377690
Summary
Public Storage completed its acquisition of PS Canada Holdings, LLC from sellers Grant Gustavson, Greer Gustavson and 4G Thoroughbreds, LLC for an upfront price of about $1.2 billion, composed of roughly $900 million in Public Storage OP units and about $310 million in cash, plus up to 768,000 additional units contingent on net operating income targets. PS Canada owns 68 self-storage facilities with about 5.3 million net rentable square feet in Canadian metropolitan markets; CEO Tom Boyle said the deal reunites the two companies under common ownership and that Public Storage expects near-term NOI growth in the high single digits.
Key points
- Public Storage paid about $1.2 billion at closing: roughly $900 million in PSA OP units (2,762,108 units at $321.98 each) and about $310 million in cash.
- PS Canada owns 68 self-storage facilities with about 5.3 million net rentable square feet in Toronto, Vancouver, Montreal, Calgary, and Ottawa.
- The sellers — Grant Gustavson, Greer Gustavson, and 4G Thoroughbreds, LLC — can receive up to 768,000 additional PSA OP units priced at $375 per unit if PS Canada hits certain net operating income targets.
- PSOC drew down its $500 million delayed draw term loan facility on August 31, 2026.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 7.01Regulation FD Disclosure
- 8.01Other Events
- 9.01Financial Statements and Exhibits
From the filing
Item 7.01 Regulation FD Disclosure. On September 1, 2026, Public Storage (the “Company”) issued a press release announcing the completion of the Company’s acquisition of PS Canada Holdings, LLC, a Delaware limited liability company (“PS Canada”), as described in Item 8.01 below, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section. …
An excerpt of the text as filed with the SEC, cut for length.
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