Strategic Storage Trust VI (SST VI), a publicly registered nonlisted real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, and Strategic Storage Growth Trust III (SSGT III), a private REIT also sponsored by an affiliate of SmartStop, have entered into a definitive agreement and plan of merger by which SST VI will acquire SSGT III in an all-stock transaction. The transaction brings together two SmartStop-sponsored REITs, and the combined company is expected to have a total asset value of approximately $1.2 billion.
Under the terms of the agreement, SST VI will acquire all of the real estate owned by SSGT III, consisting of 12 wholly owned self-storage facilities located across four states and three Canadian provinces, comprising approximately 9,215 self-storage units and 1 million net rentable square feet. SST VI will also acquire SSGT III’s 50 percent equity interest in three unconsolidated real estate ventures in British Columbia and Québe
