SmartStop Self Storage REIT, Inc. to Acquire Strategic Storage Trust IV, Inc. in $370 Million All-Stock Transaction

Client Type: Public Company

We represented the independent Special Committee of Strategic Storage Trust IV, Inc. (SST IV), in connection with a definitive agreement to merge SST IV and SmartStop Self Storage REIT, Inc., (SmartStop) in an all-stock transaction valued at $370 million. Upon completion of the merger, the combined company will have a portfolio of 136 wholly-owned properties and a combined gross book value of approximately $1.5 billion of self storage assets.

The merger was announced on November 10, 2020 and is expected to close during the first half of 2021.  More information about the transaction can be found here.

SST IV is a public non-traded REIT that focuses on the acquisition of stabilized and growth self storage properties. SST IV wholly owns 24 self storage facilities comprising approximately 18,000 self storage units and 2 million net rentable square feet of storage space, as well as one operating property and four parcels of land under development in joint ventures in the Greater Toronto Area with SmartCentres REIT, one of the largest real estate investment trusts in Canada.

SmartStop is a self-managed REIT with a fully integrated operations team of approximately 390 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs, including SST IV and other private programs. SmartStop is the tenth-largest self storage company in the U.S., with approximately $1.7 billion of real estate assets under management, including an owned and managed portfolio of 148 properties in 19 states and Toronto, Canada and comprising approximately 99,000 units and 11.2 million rentable square feet.

We represented the independent Special Committee of Strategic Storage Trust IV, Inc. (SST IV), in connection with a definitive agreement to merge SST IV and SmartStop Self Storage REIT, Inc., (SmartStop) in an all-stock transaction valued at $370 million. Upon completion of the merger, the combined company will have a portfolio of 136 wholly-owned properties and a combined gross book value of approximately $1.5 billion of self storage assets.

The merger was announced on November 10, 2020 and is expected to close during the first half of 2021.  More information about the transaction can be found here.

SST IV is a public non-traded REIT that focuses on the acquisition of stabilized and growth self storage properties. SST IV wholly owns 24 self storage facilities comprising approximately 18,000 self storage units and 2 million net rentable square feet of storage space, as well as one operating property and four parcels of land under development in joint ventures in the Greater Toronto Area with SmartCentres REIT, one of the largest real estate investment trusts in Canada.

SmartStop is a self-managed REIT with a fully integrated operations team of approximately 390 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs, including SST IV and other private programs. SmartStop is the tenth-largest self storage company in the U.S., with approximately $1.7 billion of real estate assets under management, including an owned and managed portfolio of 148 properties in 19 states and Toronto, Canada and comprising approximately 99,000 units and 11.2 million rentable square feet.