National Storage REIT acquires inner Melbourne site

Company News

National Storage REIT Limited (ASX:NSR) is of Australia’s largest self-storage providers, has acquired a telecommunications tower in Melbourne comprising 4800 sqm of lettable area across 4 levels for $12.5M to be funded from its debt facility. The acquisition is forecast to be earnings accretive with settlement expected to take place in May.
 
National Storage REIT, MD, Andrew Catsoulis said the acquisition will expand its presence in Melbourne to 26 centres and given its location will enhance brand awareness. 
 
NSR recorded a net profit of $20.6 million for the half year ended 31 Dec 2015 .