StorageVault Canada Inc. acquired a self-storage facility in Cambridge, Ontario, from an arm's length vendor for $2.45 million, subject to customary adjustments.
The payment terms for the acquisition will be a combination of cash, bank-debt financing, and the payment of a refundable deposit made to the vendor upon execution of the acquisition agreement. StorageVault intends to finance the acquisition with secured bank debt and the proceeds from a private placement.
The acquisition is scheduled to close on or before Oct. 31. For more information, call 306.536.3771.