Brookfield, GIC Said to Weigh Buyout of National Storage REIT

Brookfield Asset Management Ltd. and Singapore’s GIC Pte are jointly exploring a potential takeover of Sydney-listed National Storage REIT, according to people familiar with the matter.

New York-based Brookfield and GIC have been in talks with banks for financing as they contemplate an offer for National Storage, said the people, who asked not to be identified as the information is private. Shares of National Storage have fallen about 10% in the past year, giving the trust a market value of roughly A$3.2 billion ($2 billion).

Deliberations are ongoing and Brookfield and GIC could still opt to not proceed with ...