SmartStop Self Storage REIT, a self-storage REIT with 208 owned and managed properties in the US and Canada, raised $810 million by offering 27 million shares at $30, within the revised range of $28 to $35.
SmartStop owns and operates self storage facilities in the US and Canada, primarily in MSAs across 22 states and three provinces in Canada. Its portfolio consists of 208 owned or managed properties, comprising approximately 148,275 units and 16.7 million net rentable square feet. According to the Inside Self Storage Top-Operators List for 2024, SmartStop Self Storage REIT is the tenth largest owner and operator of self storage properties in the US.
SmartStop Self Storage REIT plans to list on the NYSE under the symbol SMA. J.P. Morgan, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets, Truist Securities, Baird, Stifel, National Bank of Canada, Raymond James, and Scotia Capital acted as joint bookrunners on the deal.
