National Storage Affiliates Trust Announces IPO for Common Shares

National Storage Affiliates Trust indicated its initial public offering in a press release on April 13. The company aims to sell shares and use the money to expand, with the purchase of 21 new storage facilities. The profits will also contribute toward alleviating existing debt and finance general corporate matters. According to Nasdaq. com, NSA intends to raise $320 million through selling common shares to the public.

The Company

Founded in 2013, NSA is a Maryland-based real estate investment trust. It primarily serves as an organization that purchases, owns and operates storage facilities. NSA focuses on acquiring properties in the top 100 metropolitan areas of the U. S. The business was able to produce $77 million in sales for the first 12 months, which ended December 31, 2014. IPOScoop. com also noted that NSA ranked as the sixth-largest self storage owner and operator in the 2014 Self-Storage Almanac. Additionally, the company owns the highest volume of units and rentable space of privately-owned self-storage establishments. Following the completion of anticipated transactions, NSA will possess 246 properties, providing 13. 7 million square feet of rentable space. More than 100,000 units will be available across 16 different states. Other acquisitions of storage properties are anticipated as well. Nearly 115 new properties and 7. 5 million square feet of rentable space may be added to the company’s current assets.

The Offer

NSA plans to offer 20 million shares of the company to the public for purchase. Interested individuals can invest in NSA for $15. 00 to $17. 00 per share. If sold at a middle price of this range, the market value would be $880 million and the business would be valued at $1. 3 billion. Underwriters will be given the opportunity to purchase 3 million additional common shares after a 30-day time period. Shares will be available on the New York Stock Exchange. Attainment of stocks will become an available option for the public when the registration statement becomes effective. The expected pricing date is April 20.


The bookrunning manager position will be jointly held by Jefferies LLC, Morgan Stanely & Co. LLC and Wells Fargo Securities, LLC. In addition, KeyBanc Capital Markets will fulfill the lead manager role. Co-managers for the offspring of this endeavor will be Baird, SunTrust Robinson Humphrey, Capital One Securities and RBC Capital Markets. SecurCare Self Storage is one of three storage operators that formed NSA in 2013. For storage units available in NSA’s mountain and southeast regions, contact a SecurCare facility today.