Brookfield Asset Management and Singapore's sovereign wealth fund GIC are pursuing a A$2.77 billion ($1.96 billion) loan to finance their acquisition of National Storage REIT, according to sources familiar with the matter. The Canadian asset manager and Singapore's state investment firm are collaborating on this significant real estate transaction.

National Storage, a Sydney-listed self-storage operator, has attracted interest from major global investors seeking to expand their Australian property portfolios. The loan would provide crucial financing for the purchase, demonstrating continued appetite for Australian real estate assets despite economic headwinds. Brookfield and GIC's joint bid highlights the appeal of the self-storage sector's resilience and growth potential.

The financing arrangement underscores the scale of institutional investment flowing into the Australian market. With both firms bringing substantial resources and expertise, the deal could reshape the country's self-storage landscape. The loan size reflects the strategic importance of the acquisition to both parties.