Strategic Storage Trust VI, Inc. Acquires Storage Facility in Greater Toronto Area | Company

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LADERA RANCH, Calif.–(BUSINESS WIRE)–Sept. 20, 2022–

Strategic Storage Trust VI, Inc. (“SST VI”), a publicly registered real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), today announced the acquisition of approximately 890 self storage units in Burlington, Ontario, Canada. This is the 15th acquisition for SST VI and the third acquisition in the Toronto market. Since the launch of SST VI in the first quarter of 2021, the REIT has purchased approximately $233.1 million worth of self-storage facilities and land parcels to convert to self-storage.

This 6.5 acre property is located close to downtown Burlington on Plains Road East. The facility comprises approximately 92,400 square feet of rental space spread across a mix of air-conditioned, walk-in and interior units. This location is adjacent to a 3.85 acre multi-tower high-rise residential and commercial development project. It is easily accessible and visible from the QEW highway and is well placed to serve the Maple, Freeman, Aldershot and LaSalle neighborhoods.

“We are excited about this strategic acquisition which will expand our presence in the Greater Toronto Area and provide premium storage solutions to Burlington’s growing residential population,” said H. Michael Schwartz, CEO and President of SST VI. “Our strong competitive positioning and unique operating capabilities in this very attractive market will continue to drive shareholder value.”

About Strategic Storage Trust VI, Inc. (SST VI):

SST VI is a Maryland corporation that intends to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in revenue-generating and growth-generating self-storage facilities and related self-storage real estate investments in the United States and Canada. As of September 20, 2022, SST VI has a portfolio of 13 properties in operation in the United States comprising approximately 8,000 units and 840,000 leasable square feet; a building of approximately 890 units and 92,400 leasable square feet in Toronto, Ontario; and joint venture interests in two properties under development in Toronto, Ontario.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operating team of approximately 450 self-storage professionals focused on growing the SmartStop® Self Storage brand . SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, is the sponsor of SST VI and also sponsors other self storage programs. As of September 20, 2022, SmartStop owned or managed a portfolio of 175 properties in operation in 22 states and Ontario, Canada, comprising approximately 120,000 units and 13.6 million leasable square feet. SmartStop and its affiliates own or manage 20 operating self-storage properties in the Greater Toronto Area, totaling approximately 17,050 units and 1.7 million leasable square feet. Additional information about SmartStop is available at www.smartstopselfstorage.com.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220919005824/en/

CONTACT: David Corak

Vice President of Corporate Finance

SmartStop Self Storage REIT, Inc.

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA

SECTOR KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY OTHER RETAIL FINANCE PUBLIC RELATIONS/INVESTOR RELATIONS REIT COMMUNICATIONS SPECIALIZED PROFESSIONAL SERVICES RETAIL

SOURCE: Strategic Storage Trust VI, Inc.

Copyright BusinessWire 2022.

PUBLISHED: 09/20/2022 17:57 / DISK: 09/20/2022 17:57

http://www.businesswire.com/news/home/20220919005824/en

Copyright BusinessWire 2022.

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