This $16.2 million transaction follows Bluebird’s recent $81 million recapitalization of three facilities in the Greater Toronto Area
DARTMOUTH and TRURO, NS, February 23, 2021 – Toronto-headquartered BLUEBIRD SELF STORAGE has acquired two best-in-market, stabilized self-storage facilities in Dartmouth and Truro, Nova Scotia. This $16.2 million transaction comes two months after the company recapitalized $81 million across three locations in the Greater Toronto Area.
According to Jamie Bennett, Managing Principal and Head of Development, “Branded under Premiere Self Storage, the Nova Scotia facilities are situated at 610 Wright Avenue in Dartmouth and 158 Parkway Drive in Truro – amazing locations for the market. We will implement best practices of modern management intensely focusing on digital traffic, revenue management and industry-leading customer service. The Dartmouth site is in a high-traffic retail corridor, close to major retail and residential to the east, and we see room for future expansion. The Truro facility is well-established, but the local market is under-served with climate-controlled facilities like ours. Our competitors in the local market have high occupancy so we expect continued strong demand for storage.”
“We are delighted to collaborate with Bluebird on the acquisition of these two Nova Scotia facilities,” said Roland Schatz, President of Calgary-based StoreWest. Both are welcome additions to our combined holdings and support our mutual goal of aggregating a portfolio of top-tier storage sites across the country.”
Momentum is gathering for another Bluebird milestone in March, “when the company expands its existing Western Canada footprint further into Alberta,” said Reade De Curtins, Bluebird Managing Principal, Head of Real Estate and Director of Branding.
“The Alberta transaction will take our capital outlay to nearly $200 million in a relatively short period of time. We are being more aggressive than ever before, and our growth is significant across Canada, as we continue our coast-to-coast expansion. We are also actively seeking management and acquisition opportunities in B.C.”
Among the Bluebird advances since October 2020 is the creation of a company to handle third-party storage management for owners across Canada. Jason Koonin, CFA was appointed CEO of Bluebird Storage Management ULC. Bluebird is focused on creating a better, differentiated self-storage experience. When you store with Bluebird, “we recognize IT’S NOT JUST YOUR STUFF, IT’S YOUR LIFE™ “
“We are moving full steam ahead with expansion plans and steps to improve the owner and customer experiences,” De Curtins added. “As an essential service, the pandemic hasn’t slowed us down. The self-storage market is very hot right now. We have a solid team in place across the country, as well as enthusiastic investors. Our pipeline is growing rapidly and we have many projects that will come to fruition later in 2021 and 2022.”
ABOUT BLUEBIRD SELF STORAGE
Bluebird Self Storage, headquartered in Toronto, Canada delivers the premier self-storage experience in Canada. Its facilities are designed for security and safety, built to give customers peace of mind. Bluebird’s full range of unit sizes feature true climate control, with multiple security cameras, bright lighting and personal access codes to protect belongings. Bluebird Self Storage has no long-term contracts; leases are month-to-month, so customers can store as long as needed. There are multiple payment options available. Bluebird also carries moving and packing supplies.