The self storage facility has been sold for $6.7M
December 22, 2016:
Formed in 2007, StorageVault Canada Inc. has recently acquired three self-storage
facilities in Canada. Two of the properties are in Moose Jaw, Saskatchewan, while the third is in Midland, Ontario.
“Self-storage fundamentals look solid in the near term, and StorageVault should be the beneficiary of strong internal growth and ample consolidation,” Johann Rodrigues, an analyst with financial firm Raymond James, told the source.
The combined Moose Jaw transaction totaled $4.4 million and was paid for with the issuance of 162,602 common shares of stock valued at $200,000, along with cash.
During the last quarter of 2016, StorageVault has closed on nearly $81 million in acquisitions. In October, the company completed its $48 million acquisition of four assets in Ontario and Quebec, which was followed by a $22 million deal for a facility in Calgary, Alberta. In November, it closed on a $4.1 million deal to buy a location in Ottawa, Ontario.