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StorageVault Expands Footprint with Completion of $62.5 Million of Acquisitions of Five Storage Assets
Globenewswire· 2026-03-26 11:01
Core Viewpoint - StorageVault Canada Inc. has completed the acquisition of five stores for a total purchase price of $62.5 million, which includes both arm's length and related party transactions [1][2]. Group 1: Acquisition Details - The total purchase price for the acquisitions was $62.5 million, which is subject to customary adjustments [2]. - The consideration for the acquisitions included $2 million in StorageVault common shares priced at $5.87 per share, along with funds on hand, promissory notes, and mortgage financing [2]. - Three of the acquisitions were arm's length transactions, while two were related party acquisitions totaling $42.4 million with Access Self Storage Inc. and its affiliate [1][2]. Group 2: Related Party Transactions - The related party acquisitions are classified as "related party transactions" under Multilateral Instrument 61-101, and StorageVault relied on exemptions from formal valuation and minority approval requirements [3]. - A total of 340,716 Payment Shares valued at $2 million were issued to Access in connection with the related party acquisitions, representing 0.09% of StorageVault's issued and outstanding common shares [4]. - Following the acquisitions, Access's ownership in StorageVault increased slightly, holding approximately 37.8% of the total issued and outstanding common shares [4]. Group 3: Company Overview - StorageVault operates 270 storage locations across Canada, owning 237 of these locations and over 5,000 portable storage units, totaling more than 13.5 million rentable square feet [5]. - The company also provides last mile storage and logistics solutions, as well as professional records management services, including document and media storage, imaging, and shredding services [5].
StorageVault Expands Footprint with Completion of $62.5 Million of Acquisitions of Five Storage Assets
Globenewswire· 2026-03-26 11:01
Core Viewpoint - StorageVault Canada Inc. has completed the acquisition of five stores for a total purchase price of $62.5 million, which includes both arm's length and related party transactions [1][2]. Group 1: Acquisition Details - The total purchase price for the acquisitions is $62.5 million, which is subject to customary adjustments [2]. - The consideration for the acquisitions includes $2 million in StorageVault common shares priced at $5.87 per share, along with funds on hand, promissory notes, and mortgage financing [2]. - Three of the acquisitions are arm's length transactions, while two are related party acquisitions totaling $42.4 million with Access Self Storage Inc. and its affiliate [1][2]. Group 2: Related Party Transactions - The related party acquisitions are classified as "related party transactions" under Multilateral Instrument 61-101, and StorageVault has relied on exemptions from formal valuation and minority approval requirements [3]. - The 340,716 Payment Shares issued to Access represent 0.09% of the total issued and outstanding common shares of StorageVault [4]. - Following the acquisitions, Access's ownership in StorageVault increased slightly, maintaining approximately 37.8% of the total issued and outstanding common shares [4]. Group 3: Company Overview - StorageVault operates 270 storage locations across Canada, owning 237 of these locations and over 5,000 portable storage units, totaling more than 13.5 million rentable square feet [5]. - The company also provides last mile storage and logistics solutions, as well as professional records management services [5].
StorageVault Announces Quarterly Dividend for Q1 2026
Globenewswire· 2026-03-13 11:00
Core Viewpoint - StorageVault Canada Inc. announced a quarterly dividend of $0.003006 per common share, payable on April 15, 2026, to shareholders of record on March 31, 2026, with an ex-dividend date of the same day [1]. Group 1: Company Overview - StorageVault Canada Inc. operates 265 storage locations across Canada, owning 232 of these locations along with over 5,000 portable storage units [2]. - The total rentable space managed by StorageVault exceeds 13.2 million square feet, spread over 768 acres of land [2]. - The company also offers last mile storage and logistics solutions, as well as professional records management services, including document and media storage, imaging, and shredding services [2].
StorageVault Delivers 10% Revenue Growth in Fiscal 2025, Expands Platform, Increases Dividend and Reaffirms Growth Outlook
Globenewswire· 2026-02-12 22:00
Core Insights - StorageVault Canada Inc. reported a 10% increase in revenue for 2025, reaching $335.1 million, and a 9.5% increase in net operating income (NOI) to $220.7 million, driven by strong same-store performance [2][3] - The company achieved a 5.8% growth in adjusted funds from operations (AFFO) per share, indicating solid operational performance [2][3] - For 2026, StorageVault anticipates continued growth in revenue, NOI, and AFFO, with plans to complete over $100 million in acquisitions and expand its footprint by 165,000 square feet [1][2] Financial Performance - Revenue increased from $304.7 million in 2024 to $335.1 million in 2025, marking a 10% growth [2] - NOI grew from $201.6 million in 2024 to $220.7 million in 2025, a 9.5% increase [2] - Cash flow from operations rose to $105.7 million from $100.9 million year-over-year [2] - The net loss for 2025 was $12.5 million, an improvement from a net loss of $30.2 million in 2024, influenced by non-cash items [2][6] Operational Highlights - Same-store revenue and NOI growth were 4.1% and 4.3%, respectively, compared to the previous year [3] - Funds from operations (FFO) increased by 3.7% year-over-year, reaching $82.5 million in 2025 [3] - AFFO also saw a 3.7% increase, totaling $90.5 million for the year [3] Future Outlook - The company expects to generate an additional $8.9 million in NOI annually from recently acquired and renovated properties as they stabilize over the next three years [4] - StorageVault aims to maintain its position as Canada's leading storage provider by enhancing its service offerings and expanding its market presence [1][10] Dividend Announcement - StorageVault announced a 0.5% increase in its Q1 2026 dividend to $0.003006 per common share [9] Company Strategy - The company focuses on owning and operating storage facilities in top Canadian markets, leveraging a multi-platform approach that includes portable storage and logistics services [10][19] - Growth strategies include acquisitions, organic performance improvements, and targeted expansions to meet demand [10]
StorageVault Announces Repayment at Maturity of its 5.75% Senior Unsecured Hybrid Debentures Due January 31, 2026
Globenewswire· 2026-01-30 13:40
Core Viewpoint - StorageVault Canada Inc. plans to fully repay its outstanding 5.75% senior unsecured hybrid debentures on February 2, 2026, following the maturity date of January 31, 2026 [1][2]. Group 1: Repayment Details - The repayment will include 100% of the aggregate outstanding principal amount along with accrued and unpaid interest up to the maturity date [2]. - StorageVault intends to use cash on hand to fulfill its repayment obligations [2]. Group 2: Debenture Information - The debentures are listed on the Toronto Stock Exchange under the symbol "SVI.DB" and will be delisted on February 2, 2026, in connection with their repayment [3]. - Beneficial owners of the debentures are encouraged to contact their investment dealer for any inquiries [3]. Group 3: Company Overview - StorageVault currently 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 on 767 acres [4]. - The company also provides last mile storage and logistics solutions, as well as professional records management services, including document and media storage, imaging, and shredding services [4].
StorageVault to Acquire Six Assets for $71.8 Million, Exceeding $200 Million Completed and Announced Transactions for 2025
Globenewswire· 2025-12-18 12:30
Core Viewpoint - StorageVault Canada Inc. has announced the acquisition of six assets for a total of $71.8 million, which is expected to close in Q1 2026, enhancing its existing portfolio [1]. Group 1: Acquisition Details - The total purchase price for the acquisitions is $71.8 million, which may be adjusted and will be paid using existing funds, first mortgages, and potential share consideration [2]. - Among the acquisitions, four transactions are arm's length, while one transaction involving two stores, valued at $42.0 million, is a related party acquisition with Access Self Storage Inc. [1][2]. - The total amount of completed and announced transactions by StorageVault in the year to date exceeds $200 million, including $132.6 million of completed acquisitions [1]. Group 2: Conditions and Exemptions - The completion of the acquisitions is subject to conditions such as satisfactory due diligence, obtaining first mortgage commitments, and satisfactory environmental site assessments [3]. - The related party acquisition is considered a "related party transaction" under MI 61-101, and StorageVault will rely on exemptions from formal valuation and minority approval requirements [4]. Group 3: Company Overview - StorageVault currently 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 [6]. - The company also provides last mile storage and logistics solutions, along with professional records management services [6].
StorageVault Announces Quarterly Dividend For Q4 2025
Globenewswire· 2025-12-15 22:09
Core Viewpoint - StorageVault Canada Inc. announced a quarterly dividend of $0.002991 per common share, payable on January 15, 2026, to shareholders of record on December 31, 2025, with an ex-dividend date of December 31, 2025, designated as an "eligible dividend" for Canadian income tax purposes [1]. Group 1 - StorageVault operates 265 storage locations across Canada, owning 232 of these locations and over 5,000 portable storage units [2]. - The total rentable space managed by StorageVault exceeds 13.2 million square feet, spread over 768 acres of land [2]. - The company provides last mile storage and logistics solutions, as well as professional records management services, including document and media storage, imaging, and shredding services [2].
StorageVault Announces Filing of Short Form Prospectus
Globenewswire· 2025-11-25 20:25
Core Viewpoint - StorageVault Canada Inc. has announced the receipt of a final short form prospectus for an offering of senior unsecured hybrid debentures, aiming to raise gross proceeds of $50 million, with a maturity date of December 31, 2030 [2][4]. Group 1: Offering Details - The offering is subject to customary regulatory approvals, including approval from the Toronto Stock Exchange [2]. - The prospectus is available through SEDAR+ and provides detailed information about StorageVault and the offering [3]. - The securities offered will not be registered under the United States Securities Act of 1933 and cannot be sold or delivered in the United States [4]. Group 2: 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]. - The company also offers last mile storage and logistics solutions, as well as professional records management services [5].
StorageVault Completes Previously Announced Acquisitions; Adjusted Total Reaches $132.6 Million
Globenewswire· 2025-09-29 11:30
Core Insights - StorageVault Canada Inc. has completed the acquisition of 4 additional storage locations for a total purchase price of $60.8 million, funded through available cash and mortgage financing [1][2]. Group 1: Acquisitions - The total purchase price for the recent acquisitions is $60.8 million, which is subject to customary adjustments [2]. - One previously announced acquisition valued at $2.6 million was not completed due to unmet due diligence conditions and was replaced with a new asset acquisition valued at $9.0 million, bringing the total completed transactions for the year to date to $132.6 million [3]. Group 2: Company Overview - StorageVault operates 263 storage locations across Canada, owning 232 of these locations along with over 5,000 portable storage units, totaling over 13.2 million rentable square feet on 767 acres of land [4]. - The company also provides last mile storage and logistics solutions, as well as professional records management services, including document and media storage, imaging, and shredding services [4].
StorageVault Announces Quarterly Dividend for Q3 2025
Globenewswire· 2025-09-15 15:47
Core Points - StorageVault Canada Inc. announced a quarterly dividend of $0.002976 per common share, payable on October 15, 2025, to shareholders of record on September 29, 2025, with an ex-dividend date of September 29, 2025 [1] - The dividend is designated as an "eligible dividend" for Canadian income tax purposes [1] Company Overview - As of June 30, 2025, StorageVault owned and operated 259 storage locations across Canada, including 228 owned locations and over 5,000 portable storage units [2] - The total rentable space managed by StorageVault exceeds 12.9 million square feet, spread over 752 acres of land [2] - The company also offers last mile storage and logistics solutions, as well as professional records management services, including document and media storage, imaging, and shredding services [2]