Brookfield (Brookfield Asset Management Ltd. (TSX:BAM)) and Singaporean wealth giant GIC (GIC Private Limited) are preparing a consortium bid for National Storage REIT (ASX:NSR), the biggest landlord of self-storage sites across Australia and New Zealand. Lender sources involved, who are piecing together a multi-billion dollar debt package to finance the deal, told this column the offer price was pegged close to net tangible asset value. Brookfield and GIC declined to comment.

Sources said the bidder consortium is advised by Deutsche Bank and Jefferies, and arranging a hefty debt package with a dozen lending banks. Citi and JPMorgan are advising the target.