Brookfield, GIC Seek $2 Billion Loan for National Storage Deal
Signage at a National Storage center in Sydney, Australia.
Photographer: Brent Lewin/BloombergBrookfield Asset Management Ltd. and Singapore’s GIC Pte are seeking a A$2.77 billion ($1.96 billion) loan to back the purchase of Sydney-listed National Storage REIT, according to people familiar with the matter.
Half a dozen banks — including DBS Group Holdings Ltd., National Australia Bank Ltd. and United Overseas Bank Ltd. — have been appointed as underwriters for the borrowing, which comprises several tranches split across three- and five-year tenors, said the people, who asked not be identified discussing private matters.