Apple Self Storage Receives Award Apple Self Storage, which operates 36 locations in New Brunswick, Nova Scotia, and Ontario, and its affiliate Apple Suites, received the Community Influencer/Leadership Award from the Aurora, Ont., Chamber of Commerce. The companies were honored on June 10 during the chamber’s 2021 Business Excellence Celebration. The event recognized local businesses that “dem- onstrate a passion for excellence, a commitment to their community, and a strong entrepreneurial spirit.”
TSAG Enters Canada The Storage Acquisition Group (TSAG) has extended its outreach to Canada. Leading these efforts is Lloyd McDonald, a seasoned financial, commercial real estate, and self-storage professional who has an extensive background in real estate and built a private financial services firm that placed over $1 billion of investor capital into multi-family, commercial, and industrial asset classes across North America. Most recently, McDonald was instrumental in the consolidation of a national portfolio of self-storage assets in Canada. His talent for building relationships, analyzing businesses, and negotiating deals make him the ideal leader to oversee the Canadian market.
MiniCo Insurance Named Best In Business MiniCo Insurance Agency has been selected by readers of Inside Self-Storage magazine as a Best of Business winner in the category of best commercial insurance for the 10th consecutive year. The magazine launched its Best of Business reader survey in 2011. This year, self-storage industry professionals were invited to vote for their choice of best businesses in 40 categories. MiniCo, along with the other 2021 Best of Business winners, were profiled in the August edition of Inside Self-Storage magazine. The complete list of 2021 Best of Business winners may be found on the magazine’s website.
Waterloo Facility Sold Colliers Self Storage Group recently arranged the sale of Mini Mall Storage, a 55,113-rentable-square-foot facility in Waterloo, Ont.
SmartStop Increases Credit Facility SmartStop Self Storage REIT, Inc. has exercised $200 million of its accordion under its existing multi-currency credit facility with a syndicate of banks led by KeyBank National Association, Wells Fargo, N.A., Citibank, N.A., and Bank of Montreal. The increased commitment was en- tirely on the revolving portion of the Credit Facility. The Credit Facility now consists of a $450 million Revolver and a $250 million term loan for a total commitment of $700 million. The Accordion was also amended to permit ex- pansion up to $1.05 billion, subject to certain conditions. The other terms and conditions of the Credit Facility remain unchanged. “This upsized facility allows us to execute
our strategic growth plans both in the U.S. and across the border in Canada,” says H. Mi- chael Schwartz, founder, chairman, and CEO of SmartStop. “With sizeable commitments from 11 existing as well as four new financial institutions, the syndicated facility was 2.3x oversubscribed, a testament to SmartStop as a company and our tremendous team, as well as the performance of our best-in-class self- storage portfolio.”
Call Center Converted To Storage U-Haul recently announced its plans to convert a former TD Bank call center in London, Ont., to a self-storage and truck rental center. The company recently acquired the 135,000-square- foot structure for $9.7 million.
October 2021
29
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32
