Toronto-based Storage Now bought competitor StorageMaxx in what may be Canada’s largest self-storage acquisition, according to Storage Now CEO Andrew Blair. The early-April purchase included seven StorageMaxx facilities: two in Greater Toronto; two in Alberta; and three in Saskatchewan.
“With the four facilities we already have in Greater Toronto, we now have 11 properties across the country, making us one of the largest operators in Canada,” Blair said.
Storage Now’s goal is to become the dominate owner of high-quality self-storage in Canada. The company plans to buy existing facilities as well as develop them from the ground up, unlike StorageMaxx, which focused on acquisitions, Blair said. “We are going to be a leading force in changing the quality and nature of Canadian self-storage,” he said. “I don’t know of anyone that combines our ability to operate with an ability to develop and professionally manage … with a retail orientation.”