- What StorageVault has reached a deal for two self-storage properties in Ontario
- Why The deal will take the firm’s owned portfolio to 250 assets
- What next The transaction is expected to close in Q3 2024
StorageVault has agreed to purchase two properties in southern Ontario for a combined $71.5m.
The deal, expected to close in Q3, will be paid with funds on hand and first mortgage financing.
The Toronto-based company also completed its acquisition of two self-storage properties in Toronto and Surrey, B.C., before June 30. The final purchase price was $58.5m, funded with cash on hand, the issuance of 640,000 StorageVault common shares valued at $4m and a vendor takeback mortgage.
Following the most recent deal, StorageVault will own and operate 250 assets across Canada and will have closed $204.5m of acquisitions in fiscal year 2024.
