FMS Capital Trust has acquired a 50 per cent interest in four Hamilton-area self-storage facilities, bringing its gross asset value above $110 million approximately one year after its launch.

Forum Make Space Storage Fund acquired the remaining 50 per cent interest. Financial terms and the vendor’s identity were not disclosed.

The properties are in Ancaster, Dundas, Waterdown and the Upper James area. Together, they contain approximately 184,000 square feet of net rentable space and about 1,200 storage units.

The facilities will be managed by Forum Make Space, whose operating portfolio now includes 67 facilities spanning 2.7 million square feet across Canada. The acquisition increased the platform’s assets under management to more than $500 million.

FMS Capital said the transaction leaves the closed-end mutual fund trust substantially fully allocated. It completed a $54.2-million initial public offering and concurrent private placement in August 2025.

Its first acquisition followed in September 2025, when it paid $42 million for three self-storage properties in Belleville, Trenton and Frankford, Ont. The portfolio contained 1,550 storage units and 350 vehicle-storage spaces across five sites.

FMS Capital expanded again in June, acquiring five facilities in Grimsby, Niagara Falls, Keswick and Port Perry, Ont. Those properties added approximately 200,000 square feet of net rentable space and more than 1,500 storage units. The purchase price was not disclosed.

“Fully allocating FMS Capital Trust within twelve months of launch speaks to the quality of our pipeline and the confidence investors have placed in our platform,” Make Space CEO and founder Danny Freedman said in a statement.

The Hamilton acquisition continues FMS Capital’s strategy of buying established, income-producing properties in markets it considers underserved. The four facilities provide exposure to separate areas of the city rather than concentrating the investment in one neighbourhood.

Hamilton is forecast to add 236,000 residents between 2021 and 2051, bringing its population to approximately 820,000, according to the city. Apartments accounted for 82 per cent of the Hamilton census division’s 2,577 housing starts in 2025.

FMS Capital did not disclose occupancy levels, rental revenue, capitalization rates or local self-storage supply figures for the acquired properties.

Pictured: The Waterdown Mini Storage facility at 55 Leavitt Blvd. is one of four Hamilton-area properties in which FMS Capital Trust and Forum Make Space Storage Fund each acquired a 50 per cent interest.