TORONTO–(BUSINESS WIRE)–Cleanster.com, a Canadian-owned company, is thrilled to announce the official launch of its innovative cleaning service platform in Toronto. Inspired by the successful Uber model, Cleanster.com has adapted the concept to cater specifically to the cleaning industry, providing a seamless and convenient solution for property owners, homeowners, and short-term rentals.

With a population of over 2.8 million, Toronto faces various cleaning challenges, and Cleanster is poised to address them head-on. The user-friendly Cleanster app empowers users to effortlessly book professional cleaners for their homes or offices. By simply selecting a date, users can receive an estimated cost for their cleaning services. Cleanster.com offers custom on-call cleaning services in Greater Toronto, serving areas such as Old Toronto, East York, Etobicoke, North York, Scarborough, and York.

Local professional cleaners, insured, bonded, and compensated fairly, are prioritized by Cleanster to ensure quality and customer satisfaction.

Cleanster.com is revolutionizing the way you find cleaning services by offering a unique and personalized approach. Unlike other forms of cleaning services, Cleanster is your dedicated partner in connecting you with local, professional, insured, bonded, and fairly compensated cleaners. Our mission is to ensure unparalleled quality and customer satisfaction in every cleaning experience.

What sets Cleanster.com apart is our commitment to matching you with highly skilled and trustworthy cleaners who are dedicated to delivering exceptional service. Each cleaner in our network undergoes a vetting process, including background checks, to ensure your peace of mind.

Unlike traditional cleaning service platforms, Cleanster.com stands out as a trailblazer in convenience. Recognizing the importance of round-the-clock support, Cleanster provides access to customer assistance through SMS, email, and chat. Customers no longer need to worry about cancellations, hiring the wrong professional, or property damage with no recourse. Cleanster has revolutionized the cleaning industry by ensuring a hassle-free experience for all users.

Cleanster.com offers a comprehensive range of cleaning services for apartment buildings, short-term rentals, and home services on-demand. With a primary focus on quality service, accountability, and affordability, Cleanster is committed to meeting the diverse cleaning needs of its customers.

“We are excited to introduce Cleanster.com to Toronto on Moving Day, July 1st, 2023,” said Gloria Oppong, Co-founder & CEO of Cleanster.com. “We believe in creating a fresh start for Toronto’s sanitation and cleaning needs. With Cleanster, users can expect a new era of cleanliness, convenience, and peace of mind. Together, we’ll make Toronto shine like never before.”

To experience the magic of Cleanster.com and embark on a journey toward a cleaner, brighter future, visit their website at www.cleanster.com or reach out to their dedicated team today.

Contacts

Gloria Oppong

support@cleanster.com

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

OTTAWA, Ontario–(BUSINESS WIRE)–InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent” or “REIT”) announced today that in connection with its previously announced normal course issuer bid (“NCIB”) to purchase up to 13,582,032 trust units (“Units”), it entered into an automatic unit purchase plan (“AUPP”) with a designated broker. The AUPP is intended to allow for the purchase of Units under the NCIB at times when the REIT would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.

Pursuant to the AUPP, InterRent has instructed the designated broker to make purchases under the NCIB in accordance with the terms of the AUPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by InterRent in accordance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the AUPP. The AUPP has been pre-cleared by the TSX and will be implemented today.

Outside of pre-determined blackout periods, Units may be purchased under the NCIB based on management’s discretion, in compliance with TSX rules and applicable securities laws. The NCIB commenced on May 23, 2023 and ends on May 22, 2024. All purchases made under the AUPP will be included in computing the number of Units purchased under the NCIB.

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.

InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts

Investor Relations

investorinfo@interrentreit.com
www.interrentreit.com

TORONTO–(BUSINESS WIRE)–Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, announced today that it has priced its 2023-SFR1 securitization transaction.

The transaction, involving the issuance and sale of 5 offered classes of fixed-rate certificates with a total face amount of $416.4 million, was priced at a weighted average yield of approximately 5.86% with a term to maturity of approximately 5 years. The transaction reflected strong demand, with subscriptions of 3.5x the offered amount and participation from 26 investors, including four new to Tricon. The transaction proceeds represent 57% of the value of the securitized portfolio which includes 2,116 single-family rental properties within the SFR JV-2 investment vehicle (“SFR JV-2”). The transaction is expected to close on or about July 11, 2023.

The 5.86% weighted average yield represents an attractive cost of financing that is in line with Tricon’s acquisition cap rates for single-family rental homes in the current market environment. The proceeds of the transaction will be used to repay floating rate debt that was temporarily used to fund acquisitions within SFR JV-2, thereby reducing the Company’s floating rate debt exposure by approximately 500 basis points to 21% of total debt from 26% in Q1/23¹.

The offering of certificates is being made through Morgan Stanley & Co. LLC as sole structuring agent, joint bookrunner, and co-lead manager, BofA Securities, Inc. as joint bookrunner and co-lead manager, Deutsche Bank Securities Inc. as joint bookrunner and co-lead manager, Mizuho Securities USA LLC as joint bookrunner and co-lead manager and RBC Capital Markets, LLC as joint bookrunner and co-lead manager. The various classes of offered certificates have been rated on a preliminary basis by Moody’s Investors Service and Kroll Bond Rating Agency.

About Tricon Residential Inc.

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) is an owner and operator of a growing portfolio of approximately 37,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon’s culture and business philosophy. We provide high-quality rental housing options for families across the United States and Canada through our technology enabled operating platform and dedicated on-the-ground operating teams. Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage. At Tricon, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.

* * * *

Certain statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These forward-looking statements include the anticipated completion and pricing of any securitization transaction, the availability or anticipated use of any surplus transaction proceeds, and the resultant impact on the Company’s debt profile. Such statements are subject to significant known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Factors that could cause actual results to differ include Tricon’s ability to execute the securitization transaction upon terms acceptable to the Company. Although management believes that it has a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements for various reasons including but not limited to the assumptions, risks and uncertainties described above. These forward-looking statements reflect current expectations of the Company as at the date of this news release and speak only as at the date of this news release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.

The certificates will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The certificates will be offered and sold in the United States in accordance with Rule 144A. This press release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the certificates in any jurisdiction in which such offer, solicitation or sale would be unlawful under the laws of such jurisdiction.

1 Reflects Tricon’s proportionate debt balance.

 

Contacts

For further information:
Wissam Francis

EVP & Chief Financial Officer

Email: IR@triconresidential.com

Wojtek Nowak

Managing Director, Capital Markets

Company’s environmental, social and governance report highlights worldwide strategy to reduce carbon emissions across all scopes, encourage diversity and inclusion, and achieve “Vision Zero” as part of its environmental health and safety program

DENVER–(BUSINESS WIRE)–Vantage Data Centers, a leading global provider of hyperscale data center campuses, today released its second annual Environmental, Social and Governance (ESG) Report showcasing the company’s dedication to meet its high standards for environmental stewardship, social responsibility and ethical governance. Themed “A Global Vision. Locally Adapted.,” the report details Vantage’s progress and achievements towards its goals across the company’s 29 global data center campuses amid a period of rapid growth.

“In 2022, Vantage continued to build on its unprecedented global growth, all while remaining committed to our sustainability, inclusivity and safety goals,” said Chris Yetman, chief operating officer at Vantage Data Centers. “We have a singular global vision for responsibly developing our data center campuses around the globe, a vision that is flexible to adapt to the local communities in which we operate. We’re proud of the progress that we’ve achieved to date and look forward to sharing future results with our customers, investors, employees and all stakeholders.”

In 2021, Vantage used a third party to conduct a materiality assessment that surveyed customers, investors, employees, utility providers, community representatives and local governments about their top ESG priorities. The results of this assessment provided Vantage with the foundation that shaped the goals outlined in the ESG report.

Highlights of Vantage’s 2022 ESG report include:

Environmental Stewardship

• A holistic approach to sustainability: Tackling global environmental and resource challenges while maintaining growth is a complex task. Last year, Vantage broadened its sustainability program to focus on five strategic areas: greenhouse gas (GHG) emissions, energy, water, waste and community.
• Net zero operational carbon emissions by 2030: Vantage is committed to reaching net zero carbon emissions by 2030. In 2022, the company completed its first Scope 3 emissions screening, developed a roadmap with proposed interim reduction targets and continued to refine its data collection methodology. Vantage joined more than 375 companies in signing The Climate Pledge, another strategic step in its ongoing commitment to reduce its environmental impact.
• Leveraging cleaner diesel fuel: In 2022, Vantage made renewable diesel fuel a reality, moving from an exploratory assessment period to implementing Hydrotreated Vegetable Oil (HVO) at its Cardiff campus. Vantage’s use of HVO significantly reduces its greenhouse gas emissions, delivering measurable progress towards lessening its carbon footprint. The company is currently working to expand the use of this biofuel more broadly based on availability and costs per market.

Social Responsibility

• Diverse employee affinity groups: Vantage welcomed more than 385 new team members in 2022. The company strives to make employees feel valued and heard across the globe, evidenced by its growing list of affinity groups. In 2022, Vantage added the Black Employee Network, the Mental Health and Wellbeing Network, the Muslim Employee Association and the Working Parents and Caregivers Network, alongside its existing Women’s Leadership Forum, to offer communities where employees who share a common identity or interest can connect and find support.
• Fostering the next generation of leaders: Vantage introduced a new Mentor Program with support from its Justice, Equity, Diversity and Inclusion (JEDI) Council to enable senior leaders to mentor junior team members. In addition, the voluntary JEDI Council grew by 85%, serving as a testament to the importance of DE&I initiatives.
• Giving back: Vantage is dedicated to supporting the communities in which it operates. Throughout the year, Vantage and its employees engaged with its local communities through service events, donating financial support to earthquake relief for Syria and Turkey and partnering with AFCOM to offer an intern program.

Ethical Governance

• Proactive governance and risk protections: To gain a deeper understanding of the risks associated with vendors, Vantage launched a third-party risk management (TPRM) program. Coupled with Vantage’s Executive Risk Council (ERC), which meets quarterly to identify potential risks and opportunities across five key functions critical to its strategic business goals, Vantage is making risk assessment and management a global priority.
• Global public policy: With differing laws, regulations and policies impacting energy, sustainability, land ownership, zoning, design aesthetics and taxes, public policy is critical to ensure optimal business outcomes. Last year, Vantage established a new public policy team and company-wide steering committee to advance the company’s development goals and lead community engagements.
• Prioritizing safety: With nearly four times as many construction hours logged in 2022 compared to 2021, Vantage lowered its Total Recordable Incident Rate (TRIR) from .31 to .28. The company also doubled down on its commitment to safety, launching its Vision Zero program. The “zero” in Vision Zero is the quest for ultimate safety on the job: zero incidents.

For additional information about these key insights and more, download the full 2022 ESG report here.

About Vantage Data Centers

Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.

For more information, visit http://www.vantage-dc.com.

Contacts

Mark Freeman

Vantage Data Centers

mfreeman@vantage-dc.com
+1-202-680-4243

Robin Bectel

REQ for Vantage Data Centers

vdc@req.co
+1-​202-936-6335

The new Managing Director role creates added value for stakeholders on both sides of the lending and investing equation

CALGARY, Alberta–(BUSINESS WIRE)–Today, Alberta-based real estate finance firm and investment manager, KV Capital, announced the opening of its Calgary office and the appointment of Michael Hoffman as Managing Director, Calgary for its Commercial Real Estate Finance division. Alberta achieved the second highest provincial year-over-year real GDP growth in 2022 and KV Capital believes the province is poised to continue this strong economic momentum. The opening of a Calgary office represents KV Capital’s belief in—and commitment to—the long-term prospects of Calgary and the province.

“The Calgary commercial real estate market is growing rapidly, and we are thrilled to expand our capacity to better serve our clients and partners doing business there,” says KV Capital’s CEO, Aleem Virani. “The relentless pursuit of a better stakeholder experience is a key driver of KV Capital’s, and we could not imagine a better leader to carry this vision in Calgary than Michael. He is widely respected for his deep expertise and business acumen. His leadership, market intelligence, and skill set greatly enhances our team’s capabilities.”

“This is a unique time—both in the commercial real estate industry and in the Alberta market as a whole,” says Calgary Commercial Real Estate Finance Managing Director, Michael Hoffman. “In addition to our strong economic growth, Alberta reached the highest provincial year-over-year population growth rate in Canada in 2022, which presents an important opportunity to support the creation of high-quality real estate developments to drive this province forward. I look forward to collaborating with the entire KV Capital team to support these developments and help make this next chapter for Alberta a bright one.”

Hoffman brings over 20 years of experience in the finance and commercial real estate lending industries to his role at KV Capital. His proven track record, leadership skills, and creative perspective for finding solutions which best suit a client’s capital needs will continue driving the firm forward.

“We are delighted to welcome Michael as the Managing Director of our Calgary office, especially at this pivotal moment of growth in the market,” notes Marc Prefontaine, KV Capital’s President, Commercial Real Estate Finance. “Michael’s reputation is impeccable, and his expertise, ethics, and ambition directly align with KV Capital. Michael will be a tremendous asset in creating value for our clients, partners, and investors.”

About KV Capital

Founded in 2006 and proudly headquartered in Alberta, KV Capital is an alternative investment manager, specializing in a diverse range of assets such as real estate debt, real estate development, and private operating businesses.

With +$1B funded in investments across various asset classes and $350M in assets under management, KV Capital’s mission is to provide the capital, creativity, and speed necessary for clients to secure the financing they need, when they need it. KV Capital offers a comprehensive suite of expert debt and equity solutions, serving the entire real estate capital stack.

Find KV Capital Online

Website: kvcapital.ca
LinkedIn: KV Capital

Contacts

Vanessa Tracy-Roth

Marketing Manager, KV Capital

vanessa.tracy-roth@kvcapital.ca | 780.999.5727

LADERA RANCH, Calif.–(BUSINESS WIRE)–Strategic Storage Trust VI, Inc. (“SST VI”), a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of six self-storage properties in the Greater Toronto Area, including Burlington, Hamilton, Vaughan, Toronto and Mississauga. The six properties feature approximately 5,500 units and approximately 524,000 net rentable square feet.

The Class A properties were recently constructed or renovated and are located in desirable high-growth areas with strong demographics, solid household incomes and populations, and excellent visibility. With their prime locations and convenient accessibility, this acquisition aligns with SST VI’s commitment to offer a wide range of storage options to meet the unique requirements of residents and businesses while providing value to stockholders.

“This strategic acquisition is a testament to our commitment to growth and innovation and represents a significant step forward in our mission to revolutionize the self-storage landscape across North America,” said H. Michael Schwartz, CEO and President of SST VI. “Each of these Class A buildings is a tremendous asset and represents a unique opportunity to deliver value for our stockholders.”

The facilities will be branded under the SmartStop® Self Storage banner and will utilize cutting-edge technology, coupled with exceptional customer service, to ensure a seamless and hassle-free storage experience for all its valued customers.

About Strategic Storage Trust VI, Inc. (SST VI):

SST VI is a Maryland corporation that elected to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in income-producing and growth self-storage facilities and related self-storage real estate investments in the United States and Canada. As of June 20, 2023, SST VI has a portfolio of 13 operating properties in the United States comprising approximately 8,660 units and 1,005,000 rentable square feet (including parking); 11 properties with approximately 9,800 units and 1,050,000 rentable square feet (including parking) in Canada, joint venture interests in three development properties in two Canadian provinces (Ontario and Quebec) and one wholly owned development property in Ontario.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 500 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 20, 2023, SmartStop has an owned or managed portfolio of 192 operating properties in 22 states and Canada, comprising approximately 135,000 units and 15.2 million rentable square feet. SmartStop and its affiliates own or manage 33 operating self-storage properties in Canada, which total approximately 28,600 units and 3.0 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

IR@smartstop.com