The Toronto Stock Exchange (TSX) has approved the listing of InStorage REIT (Real Estate Investment Trust), the only Canadian REIT focused exclusively on the ownership and management of self-storage facilities. The REIT's shares began trading on the TSX on Feb. 20 under its existing symbol "IS.UN." Immediately prior to listing on the stock exchange, the shares were consolidated on an 8-to-1 basis, as approved by the company's shareholders.
In addition, the company added two new facilities to its management portfolio in March: one in Calgary, Alberta, and another in Windsor, Ontario. The facilities comprise approximately 128,000 square feet of gross-rentable space. The Windsor property is fully climate controlled and contains 48,000 square feet, with the ability to expand with an additional 17,000 square feet. InStorage expects it will acquire the facility upon full stabilization, which is anticipated in 2010. Info: www.instoragereit.ca