TORONTO, July 28, 2026 (GLOBE NEWSWIRE) -- STORAGEVAULT CANADA INC. ("StorageVault") (SVI-TSX) is pleased to announce that it has agreed to acquire three self storage properties located in the Greater Toronto Area and one in Southwestern Ontario from arm's length vendors (the "Vendors") for an aggregate purchase price of $81,550,000, subject to customary adjustments (collectively, the "Acquisitions").
Three of the properties, representing $71,250,000 of the aggregate purchase price, will be acquired through a newly formed joint venture (the "Joint Venture") with Woodbourne. StorageVault will hold a 25% interest in the Joint Venture and Woodbourne will hold the remaining 75% interest. StorageVault currently manages these three properties and will continue to manage them on behalf of the Joint Venture.
The fourth property, representing the balance of $10,300,000 of the aggregate purchase price, will be acquired and wholly owned by StorageVault.
StorageVault's share of the purchase prices is $28,112,000 ($10,300,000 plus 25% of $71,250,000) and is expected to be paid with funds on hand and first mortgage financing. The Acquisitions are expected to close before the end of Q3 2026.
The Acquisitions are subject to customary due diligence conditions for StorageVault and closing conditions for both StorageVault and the Vendors.
Joint Venture with Woodbourne
The Joint Venture allows StorageVault to acquire an ownership interest in three locations it already manages while deploying limited capital, and to continue to earn management fees in addition to its 25% share of the returns of the Joint Venture.
Woodbourne has the objective of growing its self storage holdings. StorageVault's management team has known Woodbourne for over 15 years and has completed a number of transactions with Woodbourne during that period.
Including the Acquisitions, StorageVault has closed or announced $153 million of acquisitions to date in fiscal 2026. The three Joint Venture properties are currently managed by StorageVault and are already included in its location count. When the Acquisitions are completed, StorageVault will own and operate 273 locations across Canada.
About Woodbourne
Woodbourne is a leading diversified real estate investor, developer, and operator of high quality residential rental properties, including multifamily rental apartments, student housing, seniors' housing, and alternative real estate sectors across Canada. For more information, visit woodbourneinvestments.com.
About StorageVault Canada Inc.
StorageVault currently owns and operates 272 storage locations across Canada. StorageVault owns 239 of these locations plus over 5,000 portable storage units representing over 13.7 million rentable square feet on 792 acres of land. StorageVault also provides last mile storage and logistics' solutions and professional records management services, ?such as document and media storage, imaging and shredding services???.
For further information, contact Mr. Steven Scott or Mr. Iqbal Khan:
Tel: 1-877-622-0205
ir@storagevaultcanada.com
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Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: the proposed Acquisitions? including the potential aggregate purchase price of the proposed Acquisitions, the form of consideration for the proposed Acquisitions and the potential closing dates of the proposed Acquisitions; the formation of the Joint Venture and StorageVault's 25% interest in, and management of, the Joint Venture properties; and the objectives of Woodbourne. This forward-looking information reflects StorageVault's current beliefs and is based on information currently available to StorageVault and on assumptions StorageVault believes are reasonable. These assumptions include, but are not limited to: the satisfactory fulfilment of all of the conditions precedent to the proposed Acquisitions; the completion of the Joint Venture arrangements with Woodbourne on the terms agreed; the receipt of all required approvals for the proposed Acquisitions?; market acceptance of the proposed Acquisitions?; the receipt of, and accuracy of the value of, appraisals received for the proposed Acquisitions?; acceptable financing to complete the proposed Acquisitions?; the level of activity in the storage business and the economy generally; consumer interest in StorageVault's services and products; and competition and StorageVault's competitive advantages?. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of StorageVault to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board of directors, joint venture partner, third party or regulatory approvals; the actual results of StorageVault's future operations; competition; changes in legislation, including environmental legislation, affecting StorageVault; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in StorageVault's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although StorageVault has attempted to identify important risks and factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of StorageVault as of the date of this news release and, accordingly, is subject to change after such date. However, StorageVault expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
