StorageVault Canada Inc., a self-storage facility operator, has agreed to acquire two stores in Ontario and one store in British Columbia (BC) for a combined purchase price of $55 million.
StorageVault will purchase the stores from two vendor groups. The assets and business of the British Columbia store will be purchased from Access Self Storage Inc.
Under the BC assets and business deal, the vendor of the real property for the BC assets and business will direct that $1.25 million of payment shares shall be issued to Access Self Storage.
Subject to the satisfaction of other customary closing conditions, completion of the transactions is expected to occur on or before July 31, 2019.