Mini-Mall Storage Properties Trust has completed a $750-million issuance of unsecured debentures.

Calgary-based Mini-Mall, part of Avenue Living Group, runs more than 10 million square feet of self-storage space across North America. The financing includes $450 million in Series A debentures maturing Dec. 1, 2028, and $300 million in Series B debentures maturing Dec. 1, 2030. Both were sold through a private placement led by RBC Capital Markets and BMO Capital Markets.

Avenue Living Founder and CEO Anthony Giuffre said the transaction marks the largest-ever inaugural unsecured debenture offering by a real estate issuer in Canada’s bond market, calling it a major milestone for the platform. Co-founder and chief investment officer Jason Jogia said the deal follows Mini-Mall’s recent BBB (low) rating with a Stable trend from Morningstar DBRS and reflects strong interest from institutional buyers.

The Series A and Series B debentures carry fixed annual interest rates of 4.284% and 4.751%, respectively, with semi-annual payments beginning June 1, 2026. Proceeds will go toward refinancing debt, acquiring new properties, and general corporate purposes.

Mini-Mall also converted its existing $525-million revolving credit facility into an unsecured facility to enhance financing flexibility.

Photo: Mini-Mall