SmartStop Asset Management, LLC
SmartStop Asset Management (“SAM”) is a diversified real estate company focused on student housing and senior housing. SAM and its affiliates have a managed portfolio that includes approximately $2.1 billion of assets. Since 2007, SAM and its affiliates have transacted approximately $6.0 billion in real estate deals. SAM’s managed portfolio includes five student housing communities with approximately 2,800 beds and 1.1 million square feet of space, as well as four senior housing communities with approximately 680 beds and 516,000 rentable square feet of space. SAM is the sponsor of Strategic Student & Senior Housing Trust, Inc., a public non-traded REIT focused on student and senior housing assets. SAM is also a national sponsor of Section 1031 exchange offerings using the Delaware statutory trust structure.
SAM has a track record of full-cycle REIT liquidity events, including the all-cash merger of SmartStop Self Storage, Inc. (f/k/a Strategic Storage Trust, Inc.) with Extra Space Storage in October 2015 for $13.75 per share and the all cash merger of Strategic Storage Growth Trust, Inc. with Strategic Storage Trust II, Inc. in January 2019 for $12.00 per share. In June 2019, SAM entered into a series of transactions with SmartStop Self Storage REIT, Inc. (“SmartStop REIT”) (f/k/a Strategic Storage Trust II, Inc.) in which SmartStop REIT acquired the self storage advisory, asset management, property management and tenant insurance joint venture interests of SAM. As a result of the transactions, SAM and its subsidiaries own limited partnership units in the operating partnership of SmartStop REIT. SmartStop REIT is now a self-administered self storage REIT that, through its wholly owned subsidiary, SmartStop REIT Advisors, LLC, sponsors other self storage programs, including Strategic Storage Trust IV, Inc. and self storage private programs.
On March 17, 2021, the REIT closed on its merger with Strategic Storage Trust IV, Inc. (SST IV). As a result, it acquired all of the real estate owned by SST IV, consisting of (i) 24 self storage facilities located in 9 states comprising approximately 18,000 self storage units and approximately 2.0 million net rentable square feet, and (ii) SST IV’s 50% equity interest in six unconsolidated real estate ventures located in the Greater Toronto Area of Ontario, Canada.
Second Quarter 2021 total self storage-related revenues increased by approximately $14.0 million, or 53.6%, when compared to the same period in 2020. FFO, as adjusted, increased by approximately $7.7 million, or 445%, when compared to the same period in 2020.
At the termination of its IPO offering in January 2017, the REIT had sold approximately 48 million Class A Shares and approximately 7 million Class T Shares for approximately $493 million and $73 million respectively. As of June 30, 2021, the REIT had sold approximately 6.1 million Class A Shares and approximately 0.9 million Class T Shares for approximately $63.4 million and $9.5 million, respectively, in its DRP Offering.
H. Michael Schwartz
Founder & CEO Self Storage, CEO & Chairman of the Board Student & Senior Housing
Chief Operations Officer, Self Storage
President & CIO, Self Storage
Sr. Vice President, Operations, Self Storage
CFO & Treasurer, Self Storage
Chief Accounting Officer, Self Storage
General Counsel & Secretary, Self Storage
President & CIO, Student & Senior Housing
CFO, Student & Senior Housing Trust
Secretary, Student & Senior Housing
SmartStop Self Storage, Inc. (formerly Strategic Storage Trust)
SmartStop Self Storage REIT (formerly Strategic Storage Trust II, Inc.)
Strategic Storage Growth Trust, Inc.
Strategic Storage Trust IV, Inc.
Strategic Student & Senior Housing Trust, Inc.
Information about Private Offerings is available in the Blue Vault Database (for financial professionals only).
SmartStop Asset Management, LLC
10 Terrace Road
Ladera Ranch, CA 92694