Strategic Storage Trust VI Completes Merger with Strategic Storage Growth Trust III, Creating a Billion Dollar Self-Storage REIT
SmartStop-sponsored Strategic Storage Trust VI completed its all-stock merger with Strategic Storage Growth Trust III, valuing the target's portfolio at approximately $500 million and creating a self-storage REIT with over $1 billion in total assets. SST VI's portfolio grew to 37 wholly-owned facilities, roughly 29,400 units and 3.2 million square feet, adding 12 facilities and roughly 45% more units, with new entries into California, New Jersey, Texas and three Canadian provinces via joint ventures and DST interests.
Key figures
- Deal Value Usd
- 500000000
- Facilities added
- 12
- Unit count growth
- roughly 45%
- Units wholly owned
- approximately 29,400
- Total assets combined
- $1 billion+
- Wholly owned facilities
- 37
- Distribution rate increase
- more than 20%
- Rentable sqft wholly owned
- 3.2 million
AI analysis
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