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StorageVault announces the acquisition of Sentinel Storage, 3 other Canada self-storage assets for $429M
StorageVault manages several self-storage facilities and over 3,200 portable-storage units in various locations

June 29, 2017: StorageVault has officially acquired one of two Montreal self-storage facilities it agreed to buy last month. The $8 million purchase was made with funds on hand.

The company is also negotiating a purchase agreement with Access Self Storage, a major shareholder of StorageVault, to buy six Access facilities for $34.2 million, according to a press release. Those properties are in Nova Scotia, Ontario and Quebec, Canada.

The deal with Access is subject to approval by TSX Venture Exchange, the Toronto stock exchange. It would be paid for by issuing up to $7.5 million in common shares at $2.80 per share, along with cash and financing, the release stated. The deal is expected to close around Aug. 15.

StorageVault has been actively acquiring Access properties. The deals include five assets that changed hands for $48 million last September.

Source: www.insideselfstorage.com