- StorageVault Canada (TSX:SVI) agreed to acquire two adjacent properties in Southern Ontario from two arm’s length vendors for C$71.5 million
- The purchase price will be covered using available funds and first mortgage financing. The acquisition is projected to be finalized by the end of Q3 2024
- With this acquisition, StorageVault has completed or announced C$204.5 million in acquisitions so far in fiscal 2024
- StorageVault Canada Inc. last traded at C$4.68 per share
StorageVault Canada (TSX:SVI) agreed to acquire two adjacent properties in Southern Ontario from two arm’s length vendors for C$71.5 million.
The purchase price will be covered using available funds and first mortgage financing. The acquisition is projected to be finalized by the end of Q3 2024.
In a news release, the storage company announced it had finalized the acquisition of the two sites for a total of C$58.5 million. This amount was settled through cash, issuing 640,000 shares valued at C$4 million and a vendor takeback mortgage.
With this acquisition, StorageVault has completed or announced C$204.5 million in acquisitions so far in fiscal 2024. Once this acquisition is finalized, StorageVault will own and operate 250 locations throughout Canada.
StorageVault Canada’s primary business is owning, managing and renting self-storage and portable storage space to individual and commercial customers. It owns and operates 244 storage locations across Canada. It owns 213 of these locations plus more than 5,000 portable storage units representing more than 11.8 million rentable square feet on more than 690 acres of land.
StorageVault Canada Inc. (TSX:SVI) last traded at C$4.68 per share.
Join the discussion: Find out what everybody’s saying about this stock on the StorageVault Canada Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo: StorageVault Canada Inc.)
