Mini Mall Storage Properties Announces $650 Million Senior Unsecured Debenture Offering
Calgary, Alberta, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Mini Mall Storage Properties Trust (“Mini Mall”) announced today that it has priced an offering (the “Offering”) of $350 million aggregate principal amount of Series C senior unsecured debentures and $300 million aggregate principal amount of Series D senior unsecured debentures to be issued at par (collectively, the “Debentures”), for a total issuance of $650 million. The Offering is expected to close on or about January 30, 2026.
Once issued, the Series C Debentures and Series D Debentures will mature on January 30, 2028 and July 30, 2031, respectively. The Debentures are being offered on a private placement basis in each of the provinces of Canada jointly led by RBC Capital Markets and BMO Capital Markets.
The Series C Debentures will bear interest at a fixed annual rate of 4.161% per annum and the Series D Debentures will bear interest at a fixed annual rate of 5.034% per annum, payable in equal semi-annual installments in arrears on January 30 and July 30 in each year, commencing on July 30, 2026, until maturity, unless redeemed at an earlier date. The Debentures will rank equally with all other unsecured and unsubordinated indebtedness of Mini Mall.
The net proceeds from the Offering will be used to refinance existing indebtedness, including indebtedness incurred in connection with previously announced acquisitions, fund the acquisition of additional properties, and for general corporate purposes.
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Debentures. The Debentures have not been approved or disapproved by any regulatory authority. The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within the United States, or to or for the account of United States persons.
About Mini Mall and Avenue Living Group
Avenue Living Group is a property owner-operator with over $9 billion in assets under management across 22 states in the U.S. and seven provinces in Canada. The firm’s multi-family division manages more than 23,000 doors throughout the North American heartland. Its self-storage fund, Mini Mall, owns and operates over 12.9 million square feet of self-storage space, while its agriculture fund manages 50,000 acres of farmland. Avenue Living Group focuses on long-term investments in asset classes that impact the lives of everyday North Americans. The firm has strategically built an institutional, proprietary platform that sets it apart from its peers, enabling a customer-centric management model that drives value for its customers, investors, and employees.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain forward-looking statements with respect to Mini Mall including the timing of closing of the Offering and the intended use of the net proceeds of the Offering. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations and reflect Mini Mall’s current beliefs, estimates and forecasts based on information currently available to Mini Mall and on assumptions Mini Mall believes are reasonable. These assumptions include, without limitation, that all conditions to completion of the Offering will be satisfied or waived. Important factors that could cause actual results to differ materially from expectations include, among other things, financing and interest rates, general economic and market conditions and other relevant factors. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Mini Mall has no obligation to update such statements.
All financial figures are in Canadian dollars.
For more information, please contact:
Tammy Cho
Chief Communications and Marketing Officer
tcho@avenueliving.ca
Tammy Cho Avenue Living tcho@avenueliving.ca
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