PUBLIC STORAGE CANADIAN PROPERTIES
TSX : PUB

PUBLIC STORAGE CANADIAN PROPERTIES

June 02, 2009 16:00 ET

Public Storage Canadian Properties Announces Opening of New Facility in LaSalle, Quebec

TORONTO, ONTARIO--(Marketwire - June 2, 2009) - David Singelyn, President of Canadian Mini-Warehouse Properties Company, the general partner of Public Storage Canadian Properties (the "Partnership") (TSX:PUB) today announced the opening of a newly constructed self-storage facility located at 6701 Boulevard Newman in LaSalle, Quebec located at the corner of Irwin Street and Newman Boulevard. The facility consists of a three-storey climate-controlled building with approximately 85,000 net rentable square feet and 880 self-storage units. The total cost to develop this facility (including the land purchase price) was approximately $9.5 million.

The facility will be managed by Canadian Mini-Warehouse Properties Company, the manager of the Partnership's other properties, pursuant to a management agreement for a management fee equal to 6% of gross operating revenue of the property.

This is the sixth facility acquired and/or developed by the Partnership in the Greater Montreal Area in the last 4 years.

Partnership Information

Public Storage Canadian Properties is a publicly held limited partnership formed under the Limited Partnership Act (Ontario). The Partnership owns, and derives substantially all of its income from, 27 operating self-storage facilities across Canada, of which fifteen facilities are located in Ontario, five are located in British Columbia, six are located in Quebec and one is located in Alberta. In addition, the Partnership owns parcels of land in Oakville, Ontario, Orleans, Ontario, and Richmond Hill, Ontario for development into new self-storage facilities. More information about the Partnership is available on the Internet. The Partnership's main website is at www.publicstoragecanada.com. The Partnership's investor website is www.pscinvestor.com.

Contact Information

  • Public Storage Canadian Properties
    Vincent Chan
    (866) PS-CANADA or (866) 772-2623
    or
    Public Storage Canadian Properties
    Suite 6600
    100 King Street West
    1 First Canadian Place
    Toronto, Ontario M5X 1B8
    www.publicstoragecanada.com