Storagevault to acquire six assets for $71.8-million

Executive Summary

• Storagevault Canada Inc. has agreed to acquire six self-storage assets from five vendor groups for an aggregate purchase price of $71.8 million, subject to customary adjustments and due diligence conditions.
• The acquisitions are geographically diversified across British Columbia, Alberta, Ontario, and Quebec, and are described as complementary to Storagevault's existing portfolio.
• Total completed and announced transactions for 2025 now exceed $200 million, with $132.6 million in completed year-to-date acquisitions added to this new $71.8 million deal.

Key Details

• Aggregate Purchase Price: $71.8 million, subject to customary adjustments.
• Transaction Structure:
  • Four transactions are arm's length.
  • One transaction involves two stores totaling $42.0 million and is a related-party acquisition with Access Self Storage Inc. and its affiliate.
• Payment Terms:
  • Payable via existing funds, first mortgages, and potential share consideration.
  • Access Self Storage Inc. may elect to receive up to $2.0 million in Storagevault common shares.
  • Share price for the related-party portion is the greater of $5.87 per share (based on consensus net asset value) or the 10-day volume-weighted average trading price prior to closing.
• Closing Timeline: Anticipated to close in the first quarter of 2026.
• Conditions Precedent:
  • Satisfactory due diligence.
  • Obtaining first mortgage commitments.
  • Satisfactory environmental site assessment reports.
  • Other customary closing conditions.
• Regulatory Exemptions:
  • Storagevault is relying on exemptions from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 (MI 61-101) for the related-party acquisition.
  • Exemptions cited: Section 5.5(a) and Section 5.7(a) (Fair Market Value Not More Than 25 Per Cent of Market Capitalization).
• Corporate Impact: No new insiders will be created, and no change of control will occur as a result of the acquisitions.
• Company Context: Storagevault currently owns and operates 265 storage locations across Canada, including 232 owned locations, over 5,000 portable storage units, and 13.2 million rentable square feet on 767 acres of land.

Notable Quotes

• None provided in the text.