The $52.5 million deal is expected to close this month
September 17, 2015: StorageVault Canada Inc. is in the process of acquiring a four-property self-storage portfolio in Vancouver, British Columbia, from Carousel Ventures Ltd. and Storage For Your Life Solutions Inc.
The portfolio has nearly 300,000 rentable square feet in more than 3,000 units.
StorageVault agreed to purchase the Storage For Your Life brand in the month of June. The deal includes $42.5 million in cash and $10 million through the issuance of 20 million common shares of StorageVault stock.
The deal was subject to customary closing conditions including approval by the TSX Venture Exchange.
StorageVault is also nearing completion on its $51.3 million acquisition of Cubeit Portable Storage Canada Inc. and nine storage facilities operated by Access Self Storage Inc.
StorageVault has been in business since 2007 and the company manages self-storage
facilities in Alberta, British Columbia, Manitoba, Ontario and Saskatchewan. Several of the locations are operated in conjunction with a PUPS portable-storage franchise.
Visit http://www.insideselfstorage.com/ for more information.