Business UpdateSep 29, 2026, 09:26 AM
SmartStop Expands Platform with $140M Investments; Raises 2026 Guidance
AI Summary
SmartStop Self Storage REIT, Inc. announced a significant expansion of its North American platform through approximately $140 million in strategic investments. This includes a joint venture investment in Strategic Storage Canada, LP, and the acquisition of two U.S. properties. The company also entered a programmatic investment partnership and raised its full-year 2026 guidance for same-store revenue, NOI, and FFO, as adjusted, per share. Additionally, SmartStop is launching a strategic asset management program to divest noncore properties and reinvest in core markets.
Key Highlights
- SmartStop expands North American platform with ~$140 million in strategic investments.
- Enters agreement for investment in Strategic Storage Canada, LP, a joint venture fund for ~$54 million.
- Acquires two wholly owned properties for ~$37 million in Las Vegas and Asheville.
- Initiates programmatic investment partnership with an institutional sponsor.
- Raises full-year 2026 same-store revenue and NOI guidance.
- Raises full-year 2026 FFO, as adjusted, per share guidance by $0.01.
- Initiates strategic asset management program for disposition of select noncore properties.
Price Impact
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