National Storage eyes float: report

National Storage is increasingly expected to float Australia's first listed self-storage trust before Christmas, responding to renewed interest in equity for real estate investment trusts, according to The Australian Financial Review.

In what would be a $280 million vehicle, APN Property Group would sell the $206 million unlisted storage fund with 28 properties it manages into the vehicle, the newspaper reported.

The National Storage business would be added to the vehicle, which includes 62 properties across Australia.

Morgan Stanley is handling the National Storage float, the AFR reported, and the plan first emerged as a possibility in July.