Date Closed

March 18, 2009

Lead Office

Toronto

Value

416.00 Million CAD

On March 18, 2009, Canadian Storage Partners, ULC, a member of the TKG-StorageMart group of companies, completed its acquisition of InStorage REIT by way of take-over bid and compulsory acquisition for consideration of $4.00 in cash per InStorage REIT unit. The transaction valued InStorage REIT at approximately C$416 million.

InStorage REIT owns and operates 61 self-storage facilities in Ontario, Quebec, Alberta and Saskatchewan, and is a joint venture partner with respect to four additional self-storage facilities. The acquisition of InStorage REIT required the consent of lenders holding in excess of C$175 million of securitized loans and lenders with conventional loans in excess of $100 million. Prior to the announcement of its take-over bid, Canadian Storage Partners and its affiliates held approximately 19.5% of the outstanding InStorage REIT units.

Including the InStorage REIT portfolio, the TKG-StorageMart group owns, operates and is developing 127 self-storage facilities throughout North America totalling approximately 8.0 million square feet of gross rentable area.

McCarthy Tétrault LLP represented InStorage REIT, as target, with a team co-led by Graham Gow and Roger Chouinard.