Strategic Storage Trust VI, Inc. (“SST VI”), a publicly registered non-listed real estate investment trust, has announced a definitive agreement to acquire Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private REIT, in an all-stock transaction. Both REITs are sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (NYSE: SMA), bringing together two SmartStop-sponsored entities.
The merger, disclosed from Ladera Ranch, California, is projected to result in a combined company with a total asset value of approximately $1.2 billion. This transaction consolidates significant self-storage holdings under a single entity, enhancing scale within the sector.
Upon completion, the newly formed portfolio will encompass 37 wholly owned properties. Additionally, it will include beneficial ownership interests in eight joint ventures and three distinct DST (Delaware Statutory Trust) programs. This diversified structure aims to leverage the combined operational strengths and market presence of the two REITs.
The all-stock nature of the acquisition underscores a strategic alignment between SST VI and SSGT III, reflecting a unified vision for growth and asset management within the self-storage real estate market.
