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Self-storage provider National Storage REIT (ASX:NSR) will enter a new market in the Australian Capital Territory through the purchase of a portfolio valued at $46.5 million.
The company plans to enter the Canberra market through acquiring three assets and a fourth asset just over the border in New South Wales.
Managing Director Andrew Catsoulis says the portfolio acquisition will solidify the company’s presence in the Australian market
The company’s entrance into the Canberra market will be the first major metropolitan market it has entered since listing in December 2013.
Following the transaction National Storage REIT will have a portfolio of 73 centres under operation and management across Australia.
National Storage REIT reported a net profit of $15.56 million in the 2014 financial year.
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