{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-312563","form_type":"8-K","ticker":"PSA","cik":"0001393311","company_name":"Public Storage","filed_at":"2026-07-22T21:17:28+00:00","discovered_at":"2026-07-22T21:18:00.289063+00:00","generated_at":"2026-07-22T21:18:05.314567+00:00","sec_items":["1.01","2.01","2.03","3.02","3.03","5.03","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Public Storage closes acquisition of National Storage Affiliates Trust; issues ~11.2M common shares","bullets":["NSA common shareholders received 0.14 PSA common share per NSA share; total ~11.2M PSA common shares issued.","Public Storage issued ~9.6M Series T and ~5.7M Series U preferred shares to former NSA preferred holders.","Joint venture formed with legacy NSA OP holders owning 80% of 313 properties valued at ~$3.2B; PSA manages and earns fees.","JV obtained ~$2B mortgage from Goldman Sachs/Wells Fargo and $237M mezzanine from PSA; mortgage matures Aug 2027.","PSA expects $110-130M run-rate synergies over 3-4 years and FFO accretion of $0.35-0.50 per share within first year."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-312563","json":"https://secwatch.observer/filing/0001193125-26-312563.json","markdown":"https://secwatch.observer/filing/0001193125-26-312563.md","text":"https://secwatch.observer/filing/0001193125-26-312563.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1393311/000119312526312563/0001193125-26-312563-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1393311/000119312526312563/d137665d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-07-22T21:18:05.314567+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}