SmartStop Adds Eight Self-Storage Facilities in the Greater Toronto Area for Approximately CAD $300 Million
June 20, 2023 | Business Wire
SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self-storage company, announced today that its affiliates, Strategic Storage Trust VI, Inc. and Strategic Growth Trust III, Inc. (together “the Managed REITs”), have acquired an eight-facility portfolio in the Greater Toronto Area (GTA) totaling approximately 7,400 units and 758,000 rentable square feet. With the acquisition of these eight facilities, SmartStop now owns or manages 33 operating self-storage properties in Canada, consisting of approximately 3.0 million square feet, making it the fifth largest operator in Canada.
The properties are all Class-A facilities located across Ontario in Toronto (East York and North York), Mississauga, Burlington, Hamilton and Vaughan (Woodbridge). All locations are in desirable high-growth areas with strong demographics, solid household incomes and populations, and excellent visibility. SmartStop plans to bring its innovative approach to these properties with a wide selection of storage products, flexible rental options, and award-winning customer service.
