About this episode
The episode discusses the sale of Maple Leaf Storage to QuadReal, highlighting its significance in the Canadian storage industry.
Last week, QuadReal, the Vancouver based real estate investment company owned by BCI, announced the finalization of one of the worst-kept secrets in the Canadian storage industry. While the full details of the transaction remain undisclosed, discussions with other bidders and storage industry sources have provided some insights into the metrics. The storage community believes the transaction for all 15 Maple Leaf assets in Greater Vancouver (11 sites) and Calgary (4 sites) is between $960-975 million dollars. This is the largest Self Storage transaction in Canadian history. While it didn’t set a price PSF record, it established a low Cap rate benchmark due to the portfolio size, asset quality, management potential, and funding source. The transaction includes 15 sites, primarily newer Class A facilities, with some older sites designated for redevelopment. Additionally, one site is under a land lease, and another is situated within an air parcel. According to public records, the total rentable square footage is 1.7 million, with an assessed value exceeding $530 million based on the 2025 assessment data. The sale price being elevated so far above the assessed value may posed…
People in this episode
Host: Patrick Wood
Topics covered
- real estate
- self storage
- investment
- transaction analysis
- market trends
- property valuation
Keywords
- Maple Leaf Storage
- QuadReal
- self storage transaction
- real estate investment
- Cap rate
- property tax risks
- asset quality
- BCI
- Vancouver storage market
Mentioned in this episode
Organizations: QuadReal, BCI
Places: Vancouver, Calgary, Greater Vancouver, Canada
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