National Storage Affiliates (NSA) prices forward equity sale.

National Storage Affiliates Trust (NSA) said that it has priced the forward sale of 4.5 million common shares at $33.15/share.  Including additional option shares, the total net proceeds from the offering will be $169 million.  The forward sale agreement with the underwriters has a final settlement date of March 22, 2021.

National Storage is a national owner of self-storage properties with a presence in 35 states and Puerto Rico. The current portfolio includes approximately 607 consolidated properties with another 177 properties held in institutional joint ventures with affiliates of Heitman Capital Management. Key markets for NSA include the Inland Empire, Portland, Los Angeles, Atlanta, and Phoenix.

NSA has a total market capitalization of approximately $5.2 billion and is a component of the S&P SmallCap 600 and Russell 2000 indexes.