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InStorage Paying C$110M for 11 Properties

TORONTO-The locally headquartered self storage REIT pays US$94 million for storage properties in Alberta, Saskatchewan and Ontario.

By Brian K. Miller | Updated on February 20, 2007

(For more retail coverage, click GlobeSt.com/RETAIL.)

TORONTO-InStorage Real Estate Investment Trust is acquiring a portfolio of 11 self-storage properties in Alberta, Saskatchewan and Ontario for C$110 million (US $94 million) in cash and debt. The properties operate under the name StorageMaxx in Western Canada and under the names StorageNOW and StorageONE in Ontario. The portfolio has a total of 5,900 storage units.

Two of the properties are located in Alberta, at 13303 Fort Rd. in Edmonton and 4201 52nd St. SE in Calgary. Three of the properties are located in Saskatchewan, at 901 1st Avenue N. and 3010 11th St. W. in Saskatoon and at 495 Maxwell Crescent in Regina.

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