TORONTO, Feb. 06, 2019 (GLOBE NEWSWIRE) — STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce the approval by its board of directors of an executed purchase agreement whereby StorageVault will purchase (the “Acquisition”) from arm’s length Vendors (the “Vendors”) all of the issued and outstanding trust units and limited partnership units (the “Units”) of Real Storage Private Trust, Woodfield Limited Partnership, SNS Storage (Ontario) Limited Partnership, as well as all of the equity interests of the general partners (collectively, “Real Storage”) involved in the operation of Real Storage. The Acquisition will result in StorageVault acquiring all of the self storage assets and business owned and operated by Real Storage, including its wholly owned direct and indirect partnerships and subsidiaries. The gross purchase price for the Acquisition is $275 million, subject to customary adjustments. Real Storage is one of Canada’s largest self storage portfolios and complements StorageVault’s current operating platform. Real Storage operates 25 stores in Ontario, 11 in Alberta, 1 in British Columbia and 1 in Manitoba. If all of the conditions under the purchase agreement are met or waived, it is anticipated that the closing of the Acquisition will occur in Q2 2019.