LADERA RANCH, Calif. – SmartStop Self Storage REIT, Inc. (NYSE: SMA), an internally managed real estate investment trust, is tapping into the Canadian debt market with a CAD $500 million Maple Bond offering. The company, a prominent player in the self-storage sector across the U.S. and Canada, announced the offering through its affiliated operating partnership, SmartStop OP, L.P.
The senior unsecured notes, maturing on June 16, 2028, will carry an annual interest rate of approximately 3.91%, payable semi-annually. After accounting for an interest rate hedge, the effective interest rate is approximately 3.85%. Morningstar DBRS has assigned a BBB (Stable) rating to the notes, indicating a solid investment-grade rating.
SmartStop plans to use the net proceeds from this offering to refinance higher-interest debt, finance strategic acquisitions, and for general corporate purposes. The offering is expected to close on June 16, 2025, subject to customary closing conditions.
The notes will not be registered under the Securities Act of 1933 or any U.S. state securities laws and will not be offered or sold within the United States without registration or an applicable exemption. The offering is exclusively for Canadian residents through a syndicate of agents via a private placement, with no sales planned outside of Canada.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy the notes.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop Self Storage REIT, Inc. (NYSE: SMA) is a self-managed REIT focused on the SmartStop® Self Storage brand. As of June 11, 2025, its portfolio includes 222 operating properties across 23 states, the District of Columbia, and Canada, offering approximately 158,900 units and 17.9 million rentable square feet. The company and its affiliates also manage 42 operating self-storage properties in Canada, representing roughly 35,700 units and 3.6 million rentable square feet.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250611243873/en/
David Corak
Senior VP of Corporate Finance and Strategy
SmartStop Self Storage REIT, Inc.
[email protected]
Source: SmartStop Self Storage REIT, Inc.
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