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TORONTO-Strategic Storage Trust Inc., a REIT sponsored by Strategic Capital Holdings LLC, has made its first purchase in Canada with the $14 million buy of a 1,060-unit facility here. The trust has also signed up a joint venture partner to redevelop industrial buildings and buy more storage properties throughout the country.

The trust, through affiliate Strategic Storage Holdings LLC, has entered into a letter of intent to form a JV with Budget Development Partners to acquire operational self-storage properties, build new facilities and redevelop sites. The recently-closed deal is of a site at 4548 Dufferin St., about nine miles north of downtown Toronto in the North York area. The property was built in 1965 and was converted into self-storage in 2008.

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