Storage Trust Launches IPO

Posted by Poppy Behrens on Apr 16, 2015 12:00:00 AM

Storage Trust Launches IPO

GREENWOOD VILLAGE, CO—National Storage Affiliates Trust says it has begun an initial public offering of 20 million common shares of beneficial interest of the company to be sold on the New York Stock Exchange.

National Storage has set an initial public offering price range for the offering at between $15 and $17 per share. The company will grant the underwriters a 30-day option to purchase up to an additional 3 million shares.

The firm plans to use the proceeds of the offering to acquire 21 additional self-storage properties, to retire some debts, and as working capital. The shares have been approved for listing on the NYSE, subject to official notice of issuance, under the symbol NSA.

Jefferies, Morgan Stanley, and Wells Fargo Securities will act as joint book-running managers, KeyBanc Capital Markets will act as lead manager and Baird, RBC Capital Markets, SunTrust Robinson Humphrey and Capital One Securities will act as co-managers for the offering. The offering of these securities is being made only by means of a prospectus. Copies of the preliminary prospectus can be obtained from:

  • Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, New York 10022, Attention: Equity Syndicate Prospectus Department, by calling (877) 547-6340 or by emailing
  • Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department
  • Wells Fargo Securities, LLC, 375 Park Avenue, New York, New York 10152, Attention: Equity Syndicate Department, by calling (800) 326-5897 or emailing

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. National Storage Affiliates Trust is a Maryland-based real estate investment trust focused on the ownership, operation, and acquisition of self-storage properties located within the top 100 metropolitan statistical areas throughout the United States.