---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-377690"
form_type: "8-K"
ticker: "PSA"
cik: "0001393311"
company_name: "Public Storage"
filed_at: "2026-09-01T13:19:25+00:00"
generated_at: "2026-09-01T13:20:14.734547+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Public Storage closes ~$1.2B acquisition of PS Canada (68 facilities)

## Summary
- Completed acquisition of PS Canada for ~$1.2B: $900M in PSA OP units (2.76M at $321.98/unit) + $310M cash.
- Earn-out up to $288M in OP units priced at $375/unit, contingent on NOI performance targets.
- Adds 68 self-storage facilities, ~5.3M sq ft across Toronto, Vancouver, Montreal, Calgary, Ottawa.
- Deal expected accretive to FFO/share with high single-digit NOI growth off high-5% going-in yield.
- Funded in part by full draw of $500M delayed draw term loan.

## SEC filing metadata
- accession: 0001193125-26-377690
- form_type: 8-K
- ticker: PSA
- cik: 0001393311
- company_name: Public Storage
- filed_at: 2026-09-01T13:19:25+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393311/000119312526377690/0001193125-26-377690-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393311/000119312526377690/d71712d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-377690
- JSON: https://secwatch.observer/filing/0001193125-26-377690.json
- Plain text: https://secwatch.observer/filing/0001193125-26-377690.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.