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StorageVault Finalizes and Receives Additional Expropriation Compensation, and Grows Third Party Management Platform
Globenewswireยท 2025-10-17 11:30
Core Insights - StorageVault Canada Inc. has finalized the expropriation of one of its properties, resulting in an additional gain of $15 million, bringing the total gain to approximately $30 million [2] - The company has added two new third-party stores to its management platform, enhancing its presence in key urban markets [3][4] Financial Performance - The total gain from the expropriation is now approximately $30 million, with the initial gain of $15 million recorded in Q2 2023 [2] Operational Developments - StorageVault has commenced management of two additional properties located in downtown Toronto and at a major highway intersection in the Greater Toronto Area [3] - The company emphasizes the strength of its third-party management platform, which is described as a best-in-class offering that drives superior performance [4] Company Overview - StorageVault operates 265 storage locations across Canada, owning 232 of these locations and over 5,000 portable storage units, totaling over 13.2 million rentable square feet [5]