Deal Details
SmartStop Completes $931.5 Million Initial Public Offering
Summary
SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA) recently completed an initial public offering of 31,050,000 shares of its common stock, including 4,050,000 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $30.00 per share, generating gross proceeds of $931.5 million. SmartStop intends to use the net proceeds received from the offering to redeem 100% of its issued and outstanding Series A Preferred Stock, pay down corporate debt, fund external growth through property acquisitions and fund other general corporate uses.
Baird served as a bookrunner on this transaction.
About
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 560 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. As of December 31, 2024, SmartStop has an owned or managed portfolio of 208 operating properties in 22 states, the District of Columbia and Canada, comprising approximately 148,000 units and 16.7 million rentable square feet. SmartStop and its affiliates own or manage 38 operating self-storage properties in Canada, which total approximately 33,000 units and 3.4 million rentable square feet. SmartStop is headquartered in Ladera Ranch, California.CONTACT US TO LEARN MORE
- Date
- April 2025
- Company
- SmartStop Self Storage REIT, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Real Estate
- Verticals
-
Real Estate
- Target Geography
- North America
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