National Storage REIT
(ASX:NSR) will expand to New Zealand with the $23 million purchase of a storage portfolio in Christchurch.
The portfolio is made up of 5 self- storage assets spread across the city and the purchase marks the first acquisition since NSR’s successful capital raising in April this year.
Managing Director Andrew Catsoulis said that the New Zealand market is highly fragmented with no dominant major owner and the fundamentals are highly attractive to the NSR strategy.
National Storage says it will continue to pursue attractive acquisition opportunities and its FY2015 guidance remains unchanged.
NSR reported a $15.24 million net profit for the first half of the 2015 financial year.
