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National Storage Affiliates offers 5 million common shares

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National Storage Affiliates offers 5 million common shares

National Storage Affiliates Trust launched a public offering of 5.0 million common shares of beneficial interest, with a 30-day underwriters' option to buy up to 750,000 additional shares.

Net proceeds will go toward repaying amounts outstanding under the company's revolving line of credit, on which it expects to redraw from time to time to invest in future self-storage property acquisitions, and for general corporate purposes.

Jefferies, Morgan Stanley, Citigroup and Wells Fargo Securities are joint book-running managers for the offering.