StorageVault and Woodbourne have formed a joint venture to acquire three Greater Toronto Area self-storage properties for $71.3 million.

StorageVault will hold a 25 per cent interest in the venture, while Woodbourne will own the remaining 75 per cent. StorageVault already manages the three properties and will continue operating them after the transaction closes, allowing the company to retain management fees in addition to its share of the venture’s returns.

The joint-venture properties are part of four planned acquisitions carrying a combined price of approximately $81.6 million. StorageVault will separately acquire and wholly own the fourth asset, located in southwestern Ontario, for $10.3 million.

StorageVault’s total contribution toward the acquisitions will be approximately $28.1 million, consisting of the fourth property’s full purchase price and its share of the joint-venture portfolio. The company plans to fund that amount using cash on hand and first-mortgage financing.

The transactions are expected to close before the end of the third quarter.

Woodbourne invests in multifamily apartments, student housing, seniors housing and alternative real estate sectors across Canada.

StorageVault operates its properties under the Access Storage, Sentinel Storage and Depotium Mini-Entrepôt banners. Its portable-storage operations include Cubeit Portable Storage.

Upon completion, StorageVault will own and operate 273 Canadian locations. The company has closed or announced $153 million in acquisitions during fiscal 2026.